Raymond James Financial, Inc. (NYSE:RJF) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analyst sentiment is neutral: Thirteen brokerages give Raymond James Financial a consensus “Hold” rating, with eight holds and five buys. The average 12-month price target is $181.
• Quarterly results exceeded expectations: Raymond James reported $3.14 in EPS versus the $2.91 consensus estimate, while revenue rose 15.6% year over year to $3.93 billion.
• Insiders have been selling shares: Company insiders sold 23,270 shares worth approximately $4.1 million over the past three months, while institutional investors own 83.83% of the stock.

Shares of Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) have received an average recommendation of "Hold" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $181.00.

RJF has been the subject of a number of recent research reports. Citigroup reiterated a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. TD Cowen dropped their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. UBS Group set a $184.00 target price on Raymond James Financial and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Argus lifted their price target on Raymond James Financial from $178.00 to $196.00 and gave the company a "buy" rating in a research note on Thursday, July 30th.

Insider Activity

In related news, insider Steven M. Raney sold 5,770 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the sale, the insider owned 43,046 shares of the company's stock, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 7,500 shares of Raymond James Financial stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of the sale, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This trade represents a 14.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,270 shares of company stock worth $4,090,637 over the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Raymond James Financial

Several large investors have recently bought and sold shares of RJF. Kingsview Wealth Management LLC raised its stake in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider's stock valued at $3,272,000 after purchasing an additional 17,407 shares during the last quarter. Algebris UK Ltd. acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at about $10,179,000. Fisher Asset Management LLC lifted its stake in shares of Raymond James Financial by 6.9% in the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider's stock worth $63,058,000 after buying an additional 25,410 shares in the last quarter. Swedbank AB boosted its position in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider's stock worth $6,654,000 after acquiring an additional 9,838 shares during the last quarter. Finally, Mizuho Markets Cayman LP purchased a new stake in Raymond James Financial during the 4th quarter valued at about $5,347,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $178.33 on Tuesday. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a market cap of $34.30 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. The company's 50 day moving average is $170.68 and its 200 day moving average is $158.13.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. On average, sell-side analysts forecast that Raymond James Financial will post 12.07 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 18.83%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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