Raymond James (NYSE:RJF) Given Consensus Rating of “Hold” by Brokerages

Shares of Raymond James (NYSE:RJF) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $126.22.

RJF has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. TD Cowen reduced their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Morgan Stanley lifted their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th.

Raymond James Price Performance

RJF opened at $122.75 on Wednesday. The stock has a 50-day moving average price of $125.20 and a 200-day moving average price of $117.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The firm has a market cap of $25.44 billion, a PE ratio of 14.84, a P/E/G ratio of 0.84 and a beta of 1.03. Raymond James has a 1 year low of $90.18 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 EPS. Sell-side analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.47%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Raymond James

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Raymond James in the 4th quarter worth approximately $30,000. Smithfield Trust Co grew its holdings in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares in the last quarter. Covestor Ltd boosted its position in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Raymond James in the fourth quarter worth $33,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Raymond James in the first quarter worth $33,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.