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

Key Points

• Analyst consensus: Hold — 13 brokerages cover Raymond James (9 hold, 4 buy) with an average 12‑month target price of $173.25.
• Quarterly results: RJF reported EPS of $2.83 (beat $2.76) while revenue was $3.86B (below $3.92B estimate), with revenue up 13.4% year‑over‑year and strong profitability (ROE 18.01%, net margin 13.04%); analysts forecast $11.73 EPS for the fiscal year.
• Shareholder items: the firm pays a $0.54 quarterly dividend ($2.16 annualized, 1.4% yield, DPR ~20.4%), and insider Bella Loykhter Allaire sold 29,551 shares (about $4.2M), while institutional investors own ~83.8% of the stock.

Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) has received an average recommendation of "Hold" from the thirteen brokerages that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $173.25.

Several analysts have recently weighed in on RJF shares. UBS Group restated a "neutral" rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. BMO Capital Markets raised their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. TD Cowen restated a "hold" rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Morgan Stanley raised their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research note on Tuesday.

Raymond James Financial Trading Up 0.9%

NYSE:RJF opened at $155.67 on Wednesday. The business's 50-day moving average is $149.76 and its two-hundred day moving average is $158.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. Raymond James Financial has a 12 month low of $133.89 and a 12 month high of $177.66. The firm has a market capitalization of $30.68 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The firm's revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. Research analysts predict that Raymond James Financial will post 11.73 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, April 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial's dividend payout ratio (DPR) is currently 20.42%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Raymond James Financial

Hedge funds have recently bought and sold shares of the company. West Branch Capital LLC acquired a new position in Raymond James Financial in the third quarter worth about $26,000. Reflection Asset Management acquired a new position in Raymond James Financial in the fourth quarter worth about $28,000. Salomon & Ludwin LLC acquired a new position in Raymond James Financial in the third quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial in the fourth quarter worth about $32,000. Finally, Quent Capital LLC acquired a new position in Raymond James Financial in the third quarter worth about $33,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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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