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

Raymond James Financial, Inc. (NYSE:RJF) has been given a consensus recommendation of “Hold” by the thirteen analysts that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $181.00.

Several equities analysts have recently issued reports on RJF shares. Citizens Jmp lifted their price target on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Argus lifted their target price on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. BMO Capital Markets reaffirmed a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Finally, UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th.

Raymond James Financial Stock Performance

NYSE RJF opened at $180.88 on Friday. The firm’s 50 day simple moving average is $165.11 and its 200 day simple moving average is $157.36. The firm has a market capitalization of $34.79 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $182.73.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial will post 12.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

A number of hedge funds have recently made changes to their positions in RJF. BlackRock Inc. acquired a new position in shares of Raymond James Financial in the second quarter valued at approximately $2,180,699,000. First Trust Advisors LP boosted its position in Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after buying an additional 474,477 shares during the period. Victory Capital Management Inc. grew its holdings in Raymond James Financial by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after acquiring an additional 21,856 shares during the last quarter. Bank of America Corp DE increased its position in Raymond James Financial by 9.9% in the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock valued at $354,701,000 after acquiring an additional 220,227 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock valued at $347,390,000 after acquiring an additional 41,413 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Company Profile

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.