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

Key Points

• Raymond James has a consensus analyst rating of Hold from 13 firms (8 hold, 5 buy) with an average 1‑year price target of $182.17.
• In its most recent quarter the company reported EPS of $2.86, beating estimates by $0.03, while revenue was $3.74B versus expectations of $3.83B, up 5.6% year‑over‑year.
• Raymond James announced a quarterly dividend of $0.54 (annualized $2.16), a 1.4% yield, with an ex‑dividend date of April 1 and payment on April 15.

Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) has received a consensus rating of "Hold" from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $182.1667.

A number of research analysts have weighed in on RJF shares. Bank of America lifted their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, December 10th. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a "neutral" rating in a research report on Thursday, December 11th. Morgan Stanley restated a "positive" rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Barclays initiated coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an "overweight" rating and a $191.00 price target for the company. Finally, TD Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Wednesday, January 14th.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $151.05 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.13 and a beta of 1.00. The firm's 50 day simple moving average is $163.56 and its 200-day simple moving average is $163.87. Raymond James Financial has a 12 month low of $117.57 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the previous year, the business posted $2.93 EPS. The business's revenue was up 5.6% compared to the same quarter last year. Analysts expect that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial's dividend payout ratio (DPR) is 21.14%.

Insider Transactions at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the business's stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider owned 260,546 shares of the company's stock, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. West Branch Capital LLC acquired a new stake in shares of Raymond James Financial in the third quarter valued at about $26,000. Reflection Asset Management acquired a new position in shares of Raymond James Financial during the 4th quarter worth about $28,000. Salomon & Ludwin LLC purchased a new position in Raymond James Financial in the 3rd quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the 4th quarter worth about $32,000. Finally, Quent Capital LLC acquired a new stake in Raymond James Financial in the 3rd quarter worth about $33,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

About Raymond James Financial

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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