Raymond James Financial, Inc. (NYSE:RJF) Given Average Rating of “Hold” by Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $181.3636.

A number of research analysts have commented on RJF shares. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday. BMO Capital Markets boosted their price objective on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. JMP Securities upped their target price on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Finally, Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th.

Raymond James Financial Price Performance

RJF opened at $169.09 on Monday. The company has a market capitalization of $33.39 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.32 and a beta of 0.99. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. Raymond James Financial has a 12-month low of $117.57 and a 12-month high of $177.66. The business’s fifty day simple moving average is $163.19 and its 200-day simple moving average is $164.43.

Raymond James Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.3%. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s payout ratio is presently 20.99%.

Insider Buying and Selling

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RJF. Empowered Funds LLC grew its holdings in Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 314 shares during the last quarter. Woodline Partners LP boosted its position in shares of Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 4,592 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Raymond James Financial by 1.5% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,959 shares of the financial services provider’s stock worth $3,368,000 after purchasing an additional 325 shares in the last quarter. Swedbank AB grew its stake in Raymond James Financial by 173.0% during the 2nd quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock worth $4,846,000 after buying an additional 20,022 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Raymond James Financial by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,222 shares of the financial services provider’s stock valued at $7,235,000 after buying an additional 1,219 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

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.