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

Raymond James (NYSE:RJF) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $126.22.

Several equities research analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Citigroup upped their price objective on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. TD Cowen lowered their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Finally, Bank of America lowered their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th.

Raymond James Stock Performance

RJF stock opened at $123.61 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The firm has a market cap of $25.62 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.84 and a beta of 1.01. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The stock’s 50 day simple moving average is $122.67 and its 200 day simple moving average is $119.20.

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 firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. As a group, equities research analysts predict that Raymond James will post 9.55 EPS for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 annualized dividend and a yield of 1.46%. 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 firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently modified their holdings of the stock. Covestor Ltd lifted its holdings 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 valued at $31,000 after purchasing an additional 104 shares during the last quarter. Smithfield Trust Co lifted its holdings in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the first quarter valued at $33,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Raymond James during the fourth quarter valued at $30,000. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Raymond James in the 4th quarter worth about $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.