Brokerages Set Raymond James (NYSE:RJF) Price Target at $160.27

Raymond James (NYSE:RJF) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $157.64.

RJF has been the subject of several analyst reports. Morgan Stanley raised their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Raymond James during the fourth quarter valued at $294,647,000. Raymond James Financial Inc. acquired a new position in Raymond James during the 4th quarter valued at about $105,701,000. GAMMA Investing LLC boosted its stake in shares of Raymond James by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock valued at $93,740,000 after purchasing an additional 672,164 shares during the last quarter. Select Equity Group L.P. acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $81,611,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Up 0.2 %

RJF opened at $137.50 on Friday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market capitalization of $28.18 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm’s fifty day moving average price is $140.43 and its two-hundred day moving average price is $151.68.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the firm earned $2.31 EPS. On average, analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.25%.

About Raymond James

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.