Raymond James (NYSE:RJF) Given Average Rating of “Hold” by Analysts

Raymond James (NYSE:RJF) has been given a consensus rating of “Hold” by the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $156.09.

Several research firms have issued reports on RJF. Jefferies Financial Group upped their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $166.00 price target (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Wells Fargo & Company cut their target price on shares of Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a report on Tuesday. Morgan Stanley upped their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th.

Raymond James Stock Performance

Shares of NYSE RJF opened at $161.55 on Thursday. The stock’s 50-day moving average is $160.42 and its 200 day moving average is $135.78. The stock has a market cap of $33.01 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 0.89 and a beta of 1.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last posted its quarterly earnings results 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. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the firm posted $2.13 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Raymond James will post 10.99 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.50 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 over the last three months. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently made changes to their positions in RJF. Wolff Wiese Magana LLC boosted its position in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP bought a new stake in Raymond James in the second quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the third quarter worth $32,000. Gladius Capital Management LP bought a new position in shares of Raymond James during the third quarter valued at $34,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Raymond James in the 3rd quarter worth about $37,000. Institutional investors 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.