Raymond James Financial, Inc. (NYSE:RJF) Receives $181.00 Consensus Target Price from Analysts

Shares of Raymond James Financial, Inc. (NYSE:RJF) have earned an average rating of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $181.4615.

Several research analysts recently commented on RJF shares. Truist Financial set a $188.00 price objective on shares of Raymond James Financial and gave the stock a “hold” rating in a report on Tuesday, September 1st. Barclays increased their target price on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Finally, Citizens Jmp raised their target price on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd.

Raymond James Financial Trading Up 0.2%

Shares of Raymond James Financial stock opened at $178.69 on Tuesday. Raymond James Financial has a 52-week low of $138.82 and a 52-week high of $182.73. The stock’s 50-day simple moving average is $173.17 and its 200 day simple moving average is $158.81. The stock has a market capitalization of $34.37 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business earned $2.18 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts anticipate that Raymond James Financial will post 12.08 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is 18.83%.

Insider Activity at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 23,270 shares of company stock valued at $4,090,637. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Institutional investors have recently added to or reduced their stakes in the business. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the fourth quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial during the fourth quarter valued at approximately $35,000. Jones Financial Companies Lllp purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $36,000. Steigerwald Gordon & Koch Inc. grew its stake in Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after buying an additional 228 shares in the last quarter. Finally, Clearstead Trust LLC bought a new position in shares of Raymond James Financial in the 2nd quarter worth $40,000. 83.83% of the stock is currently owned by institutional investors.

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.