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

Shares of Raymond James (NYSE:RJF) have earned a consensus rating of “Hold” from the twelve ratings firms that are covering the company, Marketbeat reports. Nine equities 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 $152.73.

A number of research analysts have commented on RJF shares. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company restated an “equal weight” rating and issued a $169.00 price target (up previously from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a report on Monday.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,621 shares of company stock worth $10,729,488. Insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

A number of institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. increased its position in shares of Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after acquiring an additional 64 shares in the last quarter. Metis Global Partners LLC increased its holdings in Raymond James by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 82 shares in the last quarter. Wedmont Private Capital increased its holdings in Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares in the last quarter. Portside Wealth Group LLC lifted its stake in shares of Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Raymond James by 0.4% in the third quarter. MML Investors Services LLC now owns 22,467 shares of the financial services provider’s stock worth $2,751,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 0.2 %

Shares of NYSE RJF opened at $159.32 on Thursday. The business has a 50-day moving average price of $159.61 and a 200 day moving average price of $134.73. The stock has a market cap of $32.51 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the firm posted $2.13 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is currently 20.60%.

About Raymond James

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.