Credit Suisse Group restated their hold rating on shares of Raymond James Financial (NYSE:RJF) in a research report sent to investors on Wednesday. The brokerage currently has a $82.00 price objective on the financial services provider’s stock.

A number of other research firms also recently weighed in on RJF. Wells Fargo & Co raised Raymond James Financial from a market perform rating to an outperform rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $85.00 price target on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Finally, Buckingham Research upped their price target on Raymond James Financial from $92.00 to $96.00 and gave the stock a buy rating in a research report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $91.43.

Raymond James Financial (RJF) traded up $0.75 during trading hours on Wednesday, reaching $90.54. The company’s stock had a trading volume of 1,350,000 shares, compared to its average volume of 768,347. Raymond James Financial has a 52-week low of $69.70 and a 52-week high of $91.66. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $13,070.00, a P/E ratio of 20.96, a P/E/G ratio of 0.83 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s revenue was up 15.8% on a year-over-year basis. research analysts forecast that Raymond James Financial will post 6.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. Raymond James Financial’s dividend payout ratio is 23.15%.

In other news, Chairman Thomas A. James sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.98, for a total value of $17,196,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total value of $3,847,950.00. The disclosure for this sale can be found here. In the last three months, insiders sold 318,204 shares of company stock valued at $27,453,239. 11.18% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Raymond James Financial by 1,611.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,252 shares of the financial services provider’s stock valued at $261,000 after buying an additional 3,062 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Raymond James Financial by 12.2% in the 3rd quarter. Toronto Dominion Bank now owns 48,731 shares of the financial services provider’s stock valued at $4,110,000 after buying an additional 5,295 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Raymond James Financial by 16.1% in the 2nd quarter. Principal Financial Group Inc. now owns 360,741 shares of the financial services provider’s stock valued at $28,938,000 after buying an additional 50,132 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Raymond James Financial by 489.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock valued at $38,146,000 after buying an additional 391,701 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Raymond James Financial by 16.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 190,570 shares of the financial services provider’s stock valued at $15,288,000 after buying an additional 26,631 shares during the last quarter. 69.79% of the stock is owned by institutional investors.

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About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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