Raymond James (NYSE:RJF) Receives Average Recommendation of “Hold” from Analysts

Raymond James (NYSE:RJF) has been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $129.89.

Several research analysts have commented on RJF shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. UBS Group cut their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group boosted their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. TD Cowen upped their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th.

Raymond James Stock Performance

Raymond James stock opened at $117.58 on Friday. The company’s 50-day moving average price is $115.77 and its 200-day moving average price is $120.35. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market cap of $24.37 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. On average, equities research analysts forecast that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Raymond James’s payout ratio is currently 21.77%.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RJF. Quarry LP acquired a new position in shares of Raymond James during the second quarter worth $29,000. Smithfield Trust Co boosted its holdings in Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd grew its stake in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James in the 4th quarter valued at approximately $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the 1st quarter worth approximately $33,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.