Raymond James Financial, Inc. (NYSE:RJF) Receives $163.80 Consensus Price Target from Analysts

Key Points

• Raymond James Financial has received an average broker recommendation of "Hold", with twelve rating firms involved in this assessment; eight rated it as a hold, three as a buy, and one as a strong buy.
• The company's shares recently traded up 1.0%, with a current price of approximately $168.44 and a market cap of $33.99 billion.
• Raymond James Financial recently announced a quarterly dividend of $0.50 per share, yielding 1.19%, and its payout ratio is currently at 19.61%.

Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) has earned an average recommendation of "Hold" from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $163.80.

A number of research firms have issued reports on RJF. JPMorgan Chase & Co. increased their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. JMP Securities increased their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th.

Raymond James Financial Price Performance

Shares of RJF stock traded down $1.04 on Monday, reaching $168.43. 230,512 shares of the company were exchanged, compared to its average volume of 1,351,756. Raymond James Financial has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The business has a 50-day moving average price of $153.63 and a 200 day moving average price of $150.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.39 earnings per share. Equities research analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Raymond James Financial

Several institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial during the first quarter worth $27,000. Golden State Wealth Management LLC grew its position in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial during the first quarter worth about $33,000. Finally, Princeton Global Asset Management LLC grew its position in shares of Raymond James Financial by 69.0% during the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider's stock worth $38,000 after acquiring an additional 100 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Company Profile

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.