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

Raymond James (NYSE:RJF) has been given an average rating of “Hold” by the thirteen research firms that are presently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $153.82.

A number of equities analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley lifted their price objective on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Cowen reiterated a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently modified their holdings of RJF. Barclays PLC grew its stake in shares of Raymond James by 33.5% in the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock valued at $103,738,000 after buying an additional 212,697 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after buying an additional 488,245 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Raymond James by 2.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,128 shares of the financial services provider’s stock valued at $6,078,000 after buying an additional 769 shares in the last quarter. Czech National Bank grew its stake in shares of Raymond James by 5.1% in the fourth quarter. Czech National Bank now owns 39,672 shares of the financial services provider’s stock valued at $6,162,000 after buying an additional 1,915 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Raymond James by 6.0% in the fourth quarter. Wedmont Private Capital now owns 1,876 shares of the financial services provider’s stock valued at $289,000 after buying an additional 107 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of Raymond James stock opened at $152.56 on Wednesday. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a market cap of $30.78 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The business’s 50 day moving average price is $139.80 and its 200 day moving average price is $152.56.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. Raymond James’s dividend payout ratio is currently 19.25%.

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.