Raymond James Financial, Inc. (NYSE:RJF) Receives Average Recommendation of “Hold” from Brokerages

Shares of Raymond James Financial, Inc. (NYSE:RJF) have received a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $172.9167.

A number of research firms have recently issued reports on RJF. UBS Group reissued a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Barclays restated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd.

Institutional Investors Weigh In On Raymond James Financial

A number of large investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC boosted its holdings in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. bought a new stake in Raymond James Financial in the 4th quarter valued at $10,179,000. Fisher Asset Management LLC increased its position in shares of Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after purchasing an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Raymond James Financial by 7.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after purchasing an additional 7,202 shares during the period. Finally, Swedbank AB lifted its stake in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after purchasing an additional 9,838 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Up 0.3%

NYSE RJF opened at $158.77 on Thursday. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $177.66. 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 stock has a market cap of $30.94 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.22 and a beta of 0.94. The firm’s 50 day moving average price is $151.96 and its two-hundred day moving average price is $156.59.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 earnings per share. Equities analysts anticipate that Raymond James Financial will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

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.