Raymond James Financial Inc. (NYSE:RJF) has received an average recommendation of “Hold” from the ten brokerages that are covering the company. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $59.17.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Raymond James Financial from a “sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a research note on Monday, September 5th. Nomura dropped their price objective on Raymond James Financial from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. Wells Fargo & Co. restated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG set a $56.00 price objective on Raymond James Financial and gave the company a “buy” rating in a research note on Wednesday, July 20th.
Shares of Raymond James Financial (NYSE:RJF) traded up 0.93% during trading on Tuesday, reaching $58.58. The company’s stock had a trading volume of 190,895 shares. Raymond James Financial has a 52-week low of $39.84 and a 52-week high of $59.95. The company has a market cap of $8.27 billion, a PE ratio of 17.49 and a beta of 1.55. The firm’s 50-day moving average is $57.80 and its 200 day moving average is $53.70.
Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.32 billion. Raymond James Financial had a return on equity of 10.20% and a net margin of 9.02%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, equities research analysts predict that Raymond James Financial will post $3.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, September 29th. Raymond James Financial’s dividend payout ratio is currently 23.88%.
In related news, CFO Jeffrey P. Julien sold 18,600 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $57.62, for a total transaction of $1,071,732.00. Following the sale, the chief financial officer now owns 46,407 shares of the company’s stock, valued at $2,673,971.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Dennis W. Zank sold 10,010 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $57.64, for a total value of $576,976.40. Following the sale, the chief operating officer now directly owns 148,369 shares in the company, valued at approximately $8,551,989.16. The disclosure for this sale can be found here. Corporate insiders own 11.21% of the company’s stock.
A number of large investors have recently modified their holdings of RJF. Mizuho Asset Management Co. Ltd. increased its stake in shares of Raymond James Financial by 148.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,026 shares of the company’s stock worth $100,000 after buying an additional 1,209 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of Raymond James Financial during the second quarter worth $158,000. Tower Research Capital LLC TRC increased its stake in shares of Raymond James Financial by 16.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,333 shares of the company’s stock worth $165,000 after buying an additional 475 shares in the last quarter. Creative Planning increased its stake in shares of Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock worth $167,000 after buying an additional 149 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Raymond James Financial by 44.8% in the second quarter. Strs Ohio now owns 3,560 shares of the company’s stock worth $175,000 after buying an additional 1,101 shares in the last quarter. 70.35% of the stock is currently owned by institutional investors and hedge funds.
About Raymond James Financial
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
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