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.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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