Raymond James Financial, Inc. (RJF) – What Are Analysts Thinking About This Stock?

Shares of Raymond James Financial, Inc. (NYSE:RJF) have earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $178.67.

Several analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Raymond James Financial from $175.00 to $170.00 and set a “market perform” rating on the stock in a report on Tuesday, October 6th. Bank of America reiterated a “neutral” rating and set a $198.00 target price (up from $196.00) on shares of Raymond James Financial in a research note on Monday, October 5th. Argus lifted their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company initiated coverage on Raymond James Financial in a research report on Friday, October 2nd. They set an “equal weight” rating and a $172.00 price objective for the company. Finally, Citizens Jmp upped their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd.

Raymond James Financial Trading Up 0.2%

Shares of Raymond James Financial stock opened at $158.33 on Wednesday. The stock has a 50 day moving average of $165.67 and a 200 day moving average of $160.43. Raymond James Financial has a fifty-two week low of $138.82 and a fifty-two week high of $182.73.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, October 1st.

Insiders Place Their Bets

In related news, insider Bella Allaire sold 7,500 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the sale, the insider owned 46,086 shares of the company’s stock, valued at $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Collective Family Office LLC grew its holdings in Raymond James Financial by 3.0% in the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 62 shares during the period. Great Lakes Retirement Inc. lifted its position in shares of Raymond James Financial by 2.4% during the third quarter. Great Lakes Retirement Inc. now owns 2,788 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 65 shares in the last quarter. North Dakota State Investment Board boosted its position in Raymond James Financial by 1.2% in the 3rd quarter. North Dakota State Investment Board now owns 5,368 shares of the financial services provider’s stock valued at $848,000 after buying an additional 66 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Raymond James Financial by 10.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 71 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in Raymond James Financial by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc is a diversified financial services company serving individuals, corporations, municipalities and institutions. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment advisory, financial planning, securities brokerage, banking and capital markets services.

The company’s Private Client Group offers investment management, retirement planning, estate planning and other financial planning services through a network of financial advisors.