Analysts Set Raymond James Financial, Inc. (NYSE:RJF) Price Target at $180.73

Shares of Raymond James Financial, Inc. (NYSE:RJF) have received an average rating of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $180.7273.

Several analysts have issued reports on RJF shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen lifted their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. BMO Capital Markets increased their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th.

Raymond James Financial Price Performance

NYSE RJF opened at $165.38 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. Raymond James Financial has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a market cap of $32.53 billion, a PE ratio of 16.07, a PEG ratio of 1.02 and a beta of 0.99. The stock’s 50-day moving average price is $160.75 and its two-hundred day moving average price is $162.23.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. On average, analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s dividend payout ratio is presently 20.99%.

Insider Activity

In related news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Kestra Advisory Services LLC increased its stake in shares of Raymond James Financial by 128.4% during the 1st quarter. Kestra Advisory Services LLC now owns 10,038 shares of the financial services provider’s stock worth $1,394,000 after purchasing an additional 5,643 shares during the last quarter. Synovus Financial Corp boosted its holdings in Raymond James Financial by 99.0% in the first quarter. Synovus Financial Corp now owns 3,891 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 1,936 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Raymond James Financial by 187.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 211,724 shares of the financial services provider’s stock worth $29,411,000 after buying an additional 138,154 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Raymond James Financial during the first quarter valued at about $208,000. Finally, BNP Paribas Financial Markets raised its holdings in Raymond James Financial by 17.1% during the first quarter. BNP Paribas Financial Markets now owns 578,705 shares of the financial services provider’s stock valued at $80,388,000 after buying an additional 84,582 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

About Raymond James Financial

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.