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

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $182.1667.

A number of brokerages have recently issued reports on RJF. BMO Capital Markets boosted their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Bank of America lifted their price objective 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. UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Barclays began coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price on the stock. Finally, Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd.

Raymond James Financial Trading Down 1.9%

RJF opened at $158.07 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The stock’s 50 day moving average price is $165.64 and its 200-day moving average price is $164.69. Raymond James Financial has a one year low of $117.57 and a one year high of $177.66. The stock has a market cap of $31.15 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.20 and a beta of 1.00.

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

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Insider Activity at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial 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 completion of the sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

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

Raymond James Financial Company Profile

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.