Raymond James Financial, Inc. (NYSE:RJF) Receives $173.25 Consensus Target Price from Brokerages

Shares of Raymond James Financial, Inc. (NYSE:RJF) have received an average recommendation of “Hold” from the thirteen analysts that are presently 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 target price among brokers that have covered the stock in the last year is $172.9167.

Several equities analysts recently commented on RJF shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. BMO Capital Markets boosted their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. TD Cowen reduced their price target on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Jefferies Financial Group reduced their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Barclays reissued an “overweight” rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. increased its holdings in Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 61 shares in the last quarter. Meridian Wealth Advisors LLC increased its holdings in Raymond James Financial by 0.6% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after purchasing an additional 62 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in Raymond James Financial by 2.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 68 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 68 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Trading Down 2.1%

NYSE RJF opened at $142.28 on Friday. Raymond James Financial has a one year low of $138.82 and a one year high of $177.66. The company’s 50 day moving average price is $149.81 and its 200 day moving average price is $157.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.11 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm posted $2.42 earnings per share. Raymond James Financial’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Raymond James Financial will post 11.83 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial’s payout ratio is 20.42%.

About Raymond James Financial

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.