Raymond James (NYSE:RJF) Given Average Recommendation of “Hold” by Brokerages

Shares of Raymond James (NYSE:RJF) have been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $156.18.

Several research analysts recently issued reports on RJF shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $169.00 price target (up from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. TD Cowen lifted their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th.

Raymond James Price Performance

Shares of Raymond James stock opened at $154.23 on Thursday. The business’s 50 day simple moving average is $160.21 and its two-hundred day simple moving average is $135.54. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $31.52 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts forecast that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.30%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 over the last quarter. Company insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RJF. Victory Capital Management Inc. lifted its holdings in shares of Raymond James by 1.2% during the second quarter. Victory Capital Management Inc. now owns 120,434 shares of the financial services provider’s stock worth $14,887,000 after purchasing an additional 1,421 shares during the period. Candriam S.C.A. grew its position in shares of Raymond James by 9.2% in the second quarter. Candriam S.C.A. now owns 13,667 shares of the financial services provider’s stock valued at $1,689,000 after purchasing an additional 1,151 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Raymond James during the 2nd quarter worth $708,000. Caprock Group LLC purchased a new stake in shares of Raymond James in the 2nd quarter valued at approximately $728,000. Finally, Quest Partners LLC purchased a new position in Raymond James in the second quarter worth approximately $849,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.