Raymond James Financial (NYSE:RJF) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Raymond James Financial, Inc. (NYSE:RJF)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $162.64 and traded as high as $163.76. Raymond James Financial shares last traded at $163.5860, with a volume of 1,428,618 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on RJF shares. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Bank of America lifted their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. increased their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. 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 note on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $180.73.

Raymond James Financial Stock Up 1.9%

The firm has a 50-day moving average of $160.50 and a two-hundred day moving average of $162.74. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $32.17 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the business earned $2.95 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, January 2nd. Raymond James Financial’s payout ratio is currently 19.44%.

Insider Activity

In related news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

Hedge funds have recently bought and sold shares of the stock. West Branch Capital LLC acquired a new position in shares of Raymond James Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in Raymond James Financial in the third quarter worth approximately $31,000. Quent Capital LLC acquired a new position in Raymond James Financial during the 3rd quarter worth approximately $33,000. Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial in the 3rd quarter valued at approximately $33,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Raymond James Financial by 69.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Company Profile

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.