Raymond James Financial’s (RJF) “Hold (C+)” Rating Reiterated at Weiss Ratings

Raymond James Financial (NYSE:RJF)‘s stock had its “hold (c+)” rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently weighed in on RJF. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. JMP Securities boosted their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. BMO Capital Markets assumed coverage on Raymond James Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $180.00 price target on the stock. Citigroup reissued a “neutral” rating and set a $180.00 price target (up previously from $170.00) on shares of Raymond James Financial in a research report on Monday, September 22nd. Finally, Morgan Stanley boosted their price target on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $171.70.

Raymond James Financial Price Performance

NYSE:RJF opened at $165.10 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The stock’s 50-day simple moving average is $167.91 and its 200 day simple moving average is $154.17. The company has a market cap of $32.92 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.27 and a beta of 1.03. Raymond James Financial has a 52-week low of $117.57 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.39 EPS. As a group, sell-side analysts forecast that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Raymond James Financial

Institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its stake in shares of Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock valued at $778,000 after buying an additional 197 shares during the period. Abacus Planning Group Inc. bought a new stake in shares of Raymond James Financial in the second quarter valued at approximately $222,000. Swedbank AB boosted its stake in shares of Raymond James Financial by 173.0% in the second quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock valued at $4,846,000 after buying an additional 20,022 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after buying an additional 123 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Raymond James Financial by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock valued at $3,470,000 after buying an additional 3,035 shares during the period. 83.83% of the stock is currently owned by institutional investors.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.