Raymond James (NYSE:RJF) Receives $137.36 Consensus Target Price from Analysts

Shares of Raymond James (NYSE:RJF) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $140.91.

RJF has been the topic of a number of research analyst reports. TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday. UBS Group lowered their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James

A number of large investors have recently made changes to their positions in the business. Wedmont Private Capital lifted its stake in Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 86 shares during the period. Private Advisor Group LLC lifted its position in shares of Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Raymond James by 3.9% during the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its position in shares of Raymond James by 1.6% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after buying an additional 96 shares during the period. Finally, Covestor Ltd raised its stake in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

NYSE:RJF opened at $144.29 on Friday. The firm has a market capitalization of $29.72 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a fifty day moving average of $127.40 and a 200 day moving average of $122.16. Raymond James has a 52-week low of $97.05 and a 52-week high of $151.59.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 earnings per share. On average, research analysts expect that Raymond James will post 10.73 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

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.