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

Shares of Raymond James Financial, Inc. (NYSE:RJFGet Free Report) have been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $172.9167.

RJF has been the topic of a number of research reports. Barclays reiterated an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley increased their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. TD Cowen decreased their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, UBS Group restated a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd.

Get Our Latest Report on RJF

Insider Activity

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RJF. Thrivent Financial for Lutherans lifted its holdings in shares of Raymond James Financial by 30.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock worth $10,390,000 after acquiring an additional 14,233 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Raymond James Financial by 28.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock worth $5,402,000 after acquiring an additional 6,953 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Raymond James Financial by 2,000.9% during the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 4,342 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Raymond James Financial by 24.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after acquiring an additional 11,680 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Raymond James Financial during the 3rd quarter worth approximately $1,487,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Up 0.9%

Shares of RJF opened at $143.30 on Friday. Raymond James Financial has a 52 week low of $138.82 and a 52 week high of $177.66. The firm has a market cap of $27.93 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99. The firm’s 50-day simple moving average is $149.83 and its 200 day simple moving average is $157.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.

Raymond James Financial (NYSE:RJFGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business earned $2.42 EPS. Raymond James Financial’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts forecast that Raymond James Financial will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 20.42%.

About Raymond James Financial

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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