Raymond James Financial, Inc. (NYSE:RJF) Stock Has Consensus Price Target of $178.85 According to Brokerages

Shares of Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) have been given an average recommendation of "Hold" by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $178.85.

RJF has been the subject of a number of research reports. Argus boosted their target price on Raymond James Financial from $178.00 to $196.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. BMO Capital Markets dropped their target price on shares of Raymond James Financial from $175.00 to $170.00 and set a "market perform" rating for the company in a research report on Tuesday, October 6th. Wells Fargo & Company started coverage on shares of Raymond James Financial in a report on Friday, October 2nd. They issued an "equal weight" rating and a $172.00 price target on the stock. Barclays reaffirmed an "overweight" rating and set a $197.00 price target (up from $196.00) on shares of Raymond James Financial in a research report on Wednesday, October 7th. Finally, Citizens Jmp boosted their price objective on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 23rd.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $155.28 on Wednesday. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $182.73. The stock has a market capitalization of $29.87 billion, a P/E ratio of 13.54, a PEG ratio of 0.78 and a beta of 0.94. 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 business's fifty day moving average price is $167.92 and its 200 day moving average price is $161.51.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%. The firm's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. As a group, research analysts anticipate that Raymond James Financial will post 12.08 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 18.83%.

Insider Activity

In related news, insider Steven Raney sold 5,770 shares of Raymond James Financial stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tashtego Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider owned 45,114 shares in the company, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 23,270 shares of company stock valued at $4,090,637. Company insiders own 0.58% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RJF. Collective Family Office LLC grew its holdings in Raymond James Financial by 3.0% during the 2nd 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Raymond James Financial by 10.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider's stock worth $116,000 after buying an additional 71 shares during the period. Meeder Advisory Services Inc. lifted its holdings in Raymond James Financial by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider's stock worth $358,000 after buying an additional 72 shares in the last quarter. Root Financial Partners LLC lifted its holdings in Raymond James Financial by 23.2% in the 1st quarter. Root Financial Partners LLC now owns 404 shares of the financial services provider's stock worth $58,000 after buying an additional 76 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Raymond James Financial by 8.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the financial services provider's stock worth $211,000 after buying an additional 113 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

About Raymond James Financial

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.

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