Raymond James Financial, Inc. (NYSE:RJF) Given Average Recommendation of "Hold" by Brokerages

Shares of Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) have been assigned a consensus recommendation of "Hold" from the thirteen ratings firms that are presently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $153.82.

A number of research analysts have issued reports on the company. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. 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 decreased their target price on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Citigroup decreased their price objective on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd.

Insider Activity

In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider directly owned 78,227 shares in the company, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Raymond James Financial

Several institutional investors have recently added to or reduced their stakes in RJF. Norges Bank purchased a new stake in Raymond James Financial during the fourth quarter valued at $294,647,000. Victory Capital Management Inc. lifted its stake in shares of Raymond James Financial by 1,502.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after purchasing an additional 1,765,588 shares during the last quarter. Nuveen LLC bought a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $111,368,000. Raymond James Financial Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter worth approximately $105,701,000. Finally, GAMMA Investing LLC boosted its stake in Raymond James Financial by 25,259.8% during the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after buying an additional 672,164 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

NYSE:RJF opened at $158.20 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. Raymond James Financial has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a market cap of $31.92 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. The firm's fifty day simple moving average is $147.17 and its 200 day simple moving average is $149.69.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. Raymond James Financial's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 EPS. As a group, research analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Raymond James Financial's dividend payout ratio is presently 19.25%.

About Raymond James Financial

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.

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