Raymond James (NYSE:RJF) Receives Consensus Rating of "Hold" from Brokerages

Raymond James (NYSE:RJF - Get Free Report) has been given an average recommendation of "Hold" by the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $153.82.

RJF has been the subject of a number of research reports. Wall Street Zen downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Citigroup decreased their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Cowen restated a "hold" rating on shares of Raymond James in a research report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and set a $175.00 target price on shares of Raymond James in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their target price on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th.

Raymond James Price Performance

Shares of RJF opened at $146.83 on Friday. The firm has a market capitalization of $29.62 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company's fifty day moving average price is $140.76 and its 200-day moving average price is $151.45.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results 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 business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. Raymond James's dividend payout ratio (DPR) is currently 19.25%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Raymond James

A number of large investors have recently made changes to their positions in the stock. Crestwood Advisors Group LLC grew its position in shares of Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 67 shares in the last quarter. Formidable Asset Management LLC grew its position in shares of Raymond James by 0.9% in the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after purchasing an additional 67 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Raymond James by 2.2% in the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock valued at $461,000 after purchasing an additional 73 shares in the last quarter. Keybank National Association OH grew its position in shares of Raymond James by 0.7% in the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock valued at $1,747,000 after purchasing an additional 76 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Raymond James by 5.5% in the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock valued at $209,000 after purchasing an additional 78 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James 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.

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