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

Key Points

• Analysts have a “Hold” consensus on Raymond James Financial: nine of 15 analysts rate the stock Hold and six rate it Buy. The average 12-month price target is $181.46.
• Raymond James beat quarterly earnings expectations, reporting $3.59 per share versus the $3.26 consensus, while revenue of $4.27 billion exceeded estimates and rose 14.5% year over year.
• The company pays a quarterly dividend of $0.54, equivalent to $2.16 annually and a 1.3% yield at the price cited in the article.

Shares of Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) have been assigned a consensus rating of "Hold" from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $181.46.

A number of brokerages recently commented on RJF. Truist Financial set a $165.00 price objective on shares of Raymond James Financial and gave the company a "hold" rating in a research note on Friday, October 30th. Barclays restated an "overweight" rating and set a $197.00 target price (up from $196.00) on shares of Raymond James Financial in a research report on Wednesday, October 7th. Citizens Jmp upped their price target 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. BMO Capital Markets reduced their price target 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. Finally, Argus increased their price target on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a "buy" rating in a research report on Thursday, July 30th.

Raymond James Financial Price Performance

NYSE RJF traded up $1.21 during mid-day trading on Friday, hitting $168.50. The stock had a trading volume of 768,616 shares, compared to its average volume of 1,233,279. The company has a 50 day simple moving average of $162.44 and a 200 day simple moving average of $160.07. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.90 and a beta of 0.94. Raymond James Financial has a 52-week low of $138.82 and a 52-week high of $182.73. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.33. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.20 billion. Raymond James Financial had a return on equity of 19.52% and a net margin of 13.50%. Raymond James Financial's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.11 earnings per share. Equities analysts forecast that Raymond James Financial will post 14.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial's dividend payout ratio is presently 18.12%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial 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 in the company, valued at approximately $8,184,873.60. This represents a 14.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Raymond James Financial

A number of institutional investors have recently made changes to their positions in the stock. Pathstone Holdings LLC boosted its stake in shares of Raymond James Financial by 1.0% during the third quarter. Pathstone Holdings LLC now owns 37,028 shares of the financial services provider's stock valued at $5,850,000 after acquiring an additional 371 shares during the last quarter. Caxton Associates LLP acquired a new position in Raymond James Financial in the 3rd quarter valued at about $210,000. Advisory Alpha LLC raised its stake in Raymond James Financial by 22.8% in the 3rd quarter. Advisory Alpha LLC now owns 2,847 shares of the financial services provider's stock valued at $450,000 after purchasing an additional 529 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Raymond James Financial by 29.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 692,205 shares of the financial services provider's stock valued at $109,382,000 after purchasing an additional 155,461 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Raymond James Financial by 7.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 164,286 shares of the financial services provider's stock valued at $25,960,000 after purchasing an additional 10,754 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

About Raymond James Financial

Raymond James Financial, Inc. is a diversified financial services company that provides wealth management, investment banking, asset management and banking services. Through its financial advisors and related businesses, it serves individuals, families, businesses and institutions. The company offers financial planning, investment advisory and brokerage services, along with corporate finance, equity and fixed-income capital markets services. Its asset management business provides investment strategies and portfolio solutions, while Raymond James Bank offers banking and lending services.

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