Raymond James Financial, Inc. (NYSE:RJF) Receives $176.64 Average PT from Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has earned an average recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $176.6364.

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday, July 9th. Morgan Stanley lifted their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group decreased their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th.

Raymond James Financial Stock Up 0.0%

NYSE RJF opened at $168.41 on Monday. The stock has a 50 day moving average price of $155.56 and a 200-day moving average price of $156.36. Raymond James Financial has a one year low of $138.82 and a one year high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The company has a market capitalization of $32.82 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.07 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. Raymond James Financial’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 earnings per share. As a group, equities analysts predict that Raymond James Financial will post 11.84 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Hedge Funds Weigh In On Raymond James Financial

Large investors have recently bought and sold shares of the business. Reflection Asset Management bought a new stake in shares of Raymond James Financial during the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial in the fourth quarter worth about $32,000. Harbor Investment Advisory LLC increased its stake in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after buying an additional 172 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Raymond James Financial in the fourth quarter worth about $35,000. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 228 shares during the period. Hedge funds and other 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.