Raymond James Financial, Inc. (RJF) Receives Consensus Rating of “Hold” from Analysts
Raymond James Financial, Inc. (NYSE:RJF) has received an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $88.80.
RJF has been the subject of a number of analyst reports. Buckingham Research reissued a “buy” rating and set a $94.00 price objective (up from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Nomura boosted their price objective on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Wells Fargo & Company reissued a “market perform” rating and set a $85.00 price objective (up from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Instinet restated a “buy” rating and set a $90.00 target price (up previously from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research note on Wednesday, May 24th.
In related news, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the completion of the sale, the chief executive officer now owns 128,980 shares in the company, valued at $10,727,266.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the sale, the insider now owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of RJF. Gateway Investment Advisers LLC purchased a new stake in shares of Raymond James Financial during the first quarter worth $759,000. State of Alaska Department of Revenue purchased a new stake in shares of Raymond James Financial during the first quarter worth $323,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Raymond James Financial by 6.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,408 shares of the financial services provider’s stock worth $243,000 after buying an additional 197 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Raymond James Financial by 0.6% in the first quarter. ProShare Advisors LLC now owns 29,433 shares of the financial services provider’s stock worth $2,245,000 after buying an additional 173 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock worth $138,000 after buying an additional 40 shares in the last quarter. Institutional investors own 70.03% of the company’s stock.
Raymond James Financial (RJF) opened at 77.54 on Wednesday. Raymond James Financial has a 12 month low of $56.06 and a 12 month high of $85.97. The company’s 50-day moving average is $81.58 and its 200-day moving average is $77.79. The stock has a market capitalization of $11.14 billion, a PE ratio of 18.44 and a beta of 1.65.
Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts forecast that Raymond James Financial will post $5.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, September 29th. Raymond James Financial’s payout ratio is 20.90%.
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About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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