Shares of Raymond James (NYSE:RJF - Get Free Report) have been assigned an average rating of "Hold" from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $142.45.
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target 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. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. The Goldman Sachs Group raised their price target on Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. Wells Fargo & Company reiterated an "equal weight" rating and set a $169.00 price target (up from $152.00) on shares of Raymond James in a research note on Thursday. Finally, JMP Securities upped their price objective on Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 24th.
Get Our Latest Stock Analysis on RJF
Shares of Raymond James stock opened at $160.49 on Friday. The stock has a 50 day moving average of $152.45 and a 200 day moving average of $130.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market capitalization of $32.75 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 0.94 and a beta of 1.00. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38.
Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.13 EPS. As a group, research analysts predict that Raymond James will post 10.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This is a boost from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.25%. Raymond James's payout ratio is presently 20.60%.
In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,621 shares of company stock worth $9,134,788 over the last three months. Insiders own 9.74% of the company's stock.
Several large investors have recently modified their holdings of RJF. Wealth Enhancement Advisory Services LLC raised its position in Raymond James by 105.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider's stock valued at $3,834,000 after purchasing an additional 15,940 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Raymond James by 5.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,848 shares of the financial services provider's stock valued at $599,000 after buying an additional 256 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Raymond James by 31.0% during the second quarter. Blue Trust Inc. now owns 3,510 shares of the financial services provider's stock worth $451,000 after buying an additional 830 shares during the period. &PARTNERS purchased a new position in shares of Raymond James during the second quarter worth about $314,000. Finally, New York State Teachers Retirement System grew its holdings in shares of Raymond James by 4.6% during the second quarter. New York State Teachers Retirement System now owns 224,518 shares of the financial services provider's stock worth $27,753,000 after buying an additional 9,852 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.
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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