Analysts Set Raymond James (NYSE:RJF) PT at $167.55

Raymond James (NYSE:RJF) has earned a consensus recommendation of “Hold” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $167.55.

A number of analysts have issued reports on RJF shares. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th.

Raymond James Price Performance

Shares of Raymond James stock opened at $142.74 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $155.56 and a 200-day simple moving average of $150.03. The stock has a market capitalization of $29.25 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, sell-side analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. Raymond James’s payout ratio is presently 19.51%.

Institutional Trading of Raymond James

Several institutional investors have recently bought and sold shares of the stock. Assetmark Inc. lifted its holdings in shares of Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 138 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Raymond James during the 4th quarter worth about $105,701,000. Franklin Resources Inc. lifted its holdings in Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Raymond James in the fourth quarter valued at about $511,000. Finally, Proficio Capital Partners LLC bought a new stake in Raymond James during the fourth quarter worth about $21,334,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James

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.