Brokerages Set Raymond James Financial, Inc. (NYSE:RJF) PT at $182.17

Shares of Raymond James Financial, Inc. (NYSE:RJFGet Free Report) have received an average recommendation of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $182.1667.

Several research analysts have issued reports on RJF shares. Barclays began coverage on Raymond James Financial in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Bank of America upped their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Finally, Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd.

Check Out Our Latest Stock Report on Raymond James Financial

Raymond James Financial Trading Up 0.6%

Shares of RJF stock opened at $158.42 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial has a 12-month low of $117.57 and a 12-month high of $177.66. The stock has a market capitalization of $31.22 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.18 and a beta of 1.00. The firm’s 50 day moving average is $166.12 and its 200 day moving average is $164.85.

Raymond James Financial (NYSE:RJFGet Free Report) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business earned $2.93 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts expect that Raymond James Financial will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.54 per share. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, January 2nd. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Insider Activity at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. West Branch Capital LLC bought a new position in shares of Raymond James Financial in the third quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Raymond James Financial during the 3rd quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial in the 4th quarter worth $32,000. Quent Capital LLC purchased a new stake in Raymond James Financial in the 3rd quarter worth $33,000. Finally, Anfield Capital Management LLC bought a new stake in Raymond James Financial during the third quarter valued at about $33,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

About Raymond James Financial

(Get Free Report)

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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