Raymond James Financial, Inc. (NYSE:RJF) Stock Rated “Hold” by Sell-Side Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has been given a consensus rating of “Hold” by the fifteen analysts that are covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $180.85.

A number of equities research analysts recently issued reports on RJF shares. Argus raised their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley upped their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. UBS Group set a $184.00 target price on Raymond James Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. Truist Financial set a $188.00 target price on Raymond James Financial and gave the stock a “hold” rating in a research report on Tuesday, September 1st. Finally, BMO Capital Markets reissued a “market perform” rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $158.17 on Friday. Raymond James Financial has a 12-month low of $138.82 and a 12-month high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $172.69 and a 200-day moving average price of $160.22. The firm has a market capitalization of $30.43 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.18 EPS. As a group, equities research analysts forecast that Raymond James Financial will post 12.08 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 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 is presently 18.83%.

Insider Activity

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Allaire sold 7,500 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the transaction, the insider directly owned 46,086 shares in the company, valued at $8,184,873.60. This trade represents a 14.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 23,270 shares of company stock worth $4,090,637. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

Several large investors have recently modified their holdings of RJF. Reflection Asset Management bought a new position in shares of Raymond James Financial in the 4th quarter worth $28,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial during the fourth quarter valued at about $35,000. Jones Financial Companies Lllp purchased a new position in Raymond James Financial in the second quarter valued at about $36,000. Steigerwald Gordon & Koch Inc. grew its stake in Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in Raymond James Financial in the second quarter worth about $40,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment banking, capital markets, asset management, and banking services to individuals, corporations, institutions, and municipalities.

Its wealth management operations serve clients through employee advisors and independent financial advisors, offering investment planning, brokerage, retirement planning, insurance, and related advisory services.