Raymond James Financial, Inc. (NYSE:RJF – Get Free Report) has earned a consensus rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $181.58.
A number of equities analysts have recently issued reports on the company. Argus upped their price objective on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays boosted their target price on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Truist Financial set a $188.00 target price on Raymond James Financial and gave the stock a “hold” rating in a research note on Tuesday, September 1st. UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th.
View Our Latest Stock Report on RJF
Raymond James Financial Price Performance
Raymond James Financial (NYSE:RJF – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, analysts predict that Raymond James Financial will post 12.08 EPS for the current fiscal year.
Raymond James Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.
Insiders Place Their Bets
In other news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,270 shares of company stock valued at $4,090,637 over the last three months. Insiders own 0.58% of the company’s stock.
Hedge Funds Weigh In On Raymond James Financial
A number of large investors have recently bought and sold shares of RJF. QRG Capital Management Inc. lifted its position in Raymond James Financial by 12.7% in the second quarter. QRG Capital Management Inc. now owns 39,488 shares of the financial services provider’s stock valued at $6,003,000 after purchasing an additional 4,435 shares during the last quarter. State Street Corp grew its holdings in shares of Raymond James Financial by 0.4% in the second quarter. State Street Corp now owns 7,889,824 shares of the financial services provider’s stock worth $1,199,424,000 after purchasing an additional 35,294 shares during the last quarter. Security National Bank of SO Dak purchased a new position in shares of Raymond James Financial in the second quarter worth $79,000. Sequoia Financial Advisors LLC increased its stake in shares of Raymond James Financial by 19.0% in the second quarter. Sequoia Financial Advisors LLC now owns 10,707 shares of the financial services provider’s stock worth $1,628,000 after buying an additional 1,706 shares during the period. Finally, Tidal Investments LLC raised its holdings in Raymond James Financial by 5.9% during the 2nd quarter. Tidal Investments LLC now owns 9,306 shares of the financial services provider’s stock valued at $1,410,000 after buying an additional 518 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.
Raymond James Financial Company Profile
Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Founded in 1962, the company provides investment, wealth management and financial planning services to individuals, corporations, institutions and municipalities.
Through its principal businesses, Raymond James offers securities brokerage, investment advisory, retirement planning, trust services and banking products. Its operations also include equity and debt capital markets, investment banking, institutional sales and trading, research, and asset management.
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