Raymond James (NYSE:RJF) Receives Consensus Recommendation of “Hold” from Analysts
Raymond James (NYSE:RJF – Get Free Report) has been given an average rating of “Hold” by the nine research firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $118.67.
Several brokerages have recently weighed in on RJF. Jefferies Financial Group dropped their price target on shares of Raymond James from $128.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. StockNews.com began coverage on shares of Raymond James in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Bank of America began coverage on shares of Raymond James in a research note on Monday, September 11th. They set a “buy” rating and a $122.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Raymond James in a research note on Tuesday, September 19th. They set a “neutral” rating and a $121.00 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of Raymond James from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th.
Read Our Latest Report on Raymond James
Insider Buying and Selling at Raymond James
In other Raymond James news, insider George Catanese sold 3,866 shares of Raymond James stock in a transaction on Monday, December 4th. The shares were sold at an average price of $106.75, for a total value of $412,695.50. Following the sale, the insider now directly owns 11,712 shares in the company, valued at approximately $1,250,256. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Raymond James news, COO Jeffrey A. Dowdle sold 8,044 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $99.41, for a total transaction of $799,654.04. Following the transaction, the chief operating officer now directly owns 40,270 shares in the company, valued at approximately $4,003,240.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George Catanese sold 3,866 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $106.75, for a total value of $412,695.50. Following the transaction, the insider now owns 11,712 shares in the company, valued at $1,250,256. The disclosure for this sale can be found here. 9.46% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Raymond James by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock valued at $2,383,900,000 after acquiring an additional 410,025 shares during the period. BlackRock Inc. increased its holdings in shares of Raymond James by 4.7% in the 2nd quarter. BlackRock Inc. now owns 17,196,715 shares of the financial services provider’s stock valued at $1,784,503,000 after acquiring an additional 772,492 shares during the period. Wellington Management Group LLP increased its holdings in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the period. FMR LLC increased its holdings in shares of Raymond James by 19.4% in the 1st quarter. FMR LLC now owns 9,993,550 shares of the financial services provider’s stock valued at $932,098,000 after acquiring an additional 1,625,771 shares during the period. Finally, State Street Corp increased its holdings in shares of Raymond James by 1.6% in the 2nd quarter. State Street Corp now owns 8,065,096 shares of the financial services provider’s stock valued at $840,253,000 after acquiring an additional 124,057 shares during the period. 75.00% of the stock is currently owned by hedge funds and other institutional investors.
Raymond James Trading Down 1.6 %
NYSE:RJF opened at $105.18 on Wednesday. The company’s 50 day moving average price is $100.36 and its 200-day moving average price is $101.99. Raymond James has a 52 week low of $82.00 and a 52 week high of $120.73. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.95 and a beta of 1.02.
Raymond James (NYSE:RJF – Get Free Report) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.15). Raymond James had a return on equity of 18.33% and a net margin of 13.39%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.99 billion. On average, equities research analysts forecast that Raymond James will post 9.04 earnings per share for the current fiscal year.
Raymond James Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a $0.45 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, December 29th. Raymond James’s payout ratio is currently 22.61%.
About Raymond James (Get Free Report
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.
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