Raymond James Financial, Inc. (NYSE:RJF) Stock Now Rated “Hold” by Sell-Side Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has earned a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $181.46.

Several brokerages have weighed in on RJF. Morgan Stanley cut their price target on Raymond James Financial from $174.00 to $171.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. Truist Financial set a $165.00 price objective on Raymond James Financial and gave the stock a “hold” rating in a report on Friday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $179.00 to $185.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Finally, TD Cowen reduced their target price on Raymond James Financial from $161.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, September 1st.

Insider Activity at Raymond James Financial

In other news, insider Bella Allaire sold 7,500 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of the transaction, the insider owned 46,086 shares of the company’s stock, valued at $8,184,873.60. This represents a 14.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Raymond James Financial

A number of large investors have recently bought and sold shares of RJF. Pathstone Holdings LLC grew its stake in shares of Raymond James Financial by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 37,028 shares of the financial services provider’s stock valued at $5,850,000 after buying an additional 371 shares during the period. Caxton Associates LLP acquired a new stake in shares of Raymond James Financial during the 3rd quarter worth $210,000. Advisory Alpha LLC increased its holdings in shares of Raymond James Financial by 22.8% during the 3rd quarter. Advisory Alpha LLC now owns 2,847 shares of the financial services provider’s stock worth $450,000 after buying an additional 529 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Raymond James Financial by 29.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 692,205 shares of the financial services provider’s stock worth $109,382,000 after buying an additional 155,461 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Raymond James Financial by 7.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 164,286 shares of the financial services provider’s stock worth $25,960,000 after buying an additional 10,754 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Up 0.7%

Shares of RJF traded up $1.21 on Friday, hitting $168.50. 768,616 shares of the stock traded hands, compared to its average volume of 1,233,279. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $32.41 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.90 and a beta of 0.94. The stock’s 50 day moving average is $162.44 and its two-hundred day moving average is $160.07. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $182.73.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.33. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.20 billion. Raymond James Financial had a net margin of 13.50% and a return on equity of 19.52%. Raymond James Financial’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.11 earnings per share. As a group, sell-side analysts predict that Raymond James Financial will post 14.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued a $0.54 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s payout ratio is 18.12%.

About Raymond James Financial

Raymond James Financial, Inc. is a diversified financial services company that provides wealth management, investment banking, asset management and banking services. Through its financial advisors and related businesses, it serves individuals, families, businesses and institutions. The company offers financial planning, investment advisory and brokerage services, along with corporate finance, equity and fixed-income capital markets services. Its asset management business provides investment strategies and portfolio solutions, while Raymond James Bank offers banking and lending services.