Raymond James (NYSE:RJF) Receives Consensus Rating of “Hold” from Analysts

Raymond James (NYSE:RJF) has earned an average rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $94.57.

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, September 19th. Credit Suisse Group dropped their target price on Raymond James from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a research report on Monday.

In related news, CFO Jeffrey P. Julien sold 15,756 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $78.59, for a total value of $1,238,264.04. Following the transaction, the chief financial officer now owns 39,592 shares in the company, valued at $3,111,535.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey A. Dowdle sold 8,398 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $84.91, for a total value of $713,074.18. Following the completion of the transaction, the chief accounting officer now owns 34,338 shares in the company, valued at approximately $2,915,639.58. The disclosure for this sale can be found here. Insiders sold 25,354 shares of company stock worth $2,053,098 in the last 90 days. 10.74% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in RJF. Buckingham Capital Management Inc. grew its position in Raymond James by 42.7% in the first quarter. Buckingham Capital Management Inc. now owns 20,356 shares of the financial services provider’s stock valued at $1,637,000 after acquiring an additional 6,092 shares during the last quarter. First Trust Advisors LP grew its position in Raymond James by 21.2% in the first quarter. First Trust Advisors LP now owns 124,708 shares of the financial services provider’s stock valued at $10,028,000 after acquiring an additional 21,803 shares during the last quarter. Andra AP fonden bought a new position in Raymond James in the first quarter valued at about $5,548,000. Meridian Wealth Management LLC bought a new position in Raymond James in the first quarter valued at about $95,000. Finally, Marshall Wace North America L.P. bought a new position in Raymond James in the first quarter valued at about $626,000. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Shares of RJF traded up $1.44 during midday trading on Monday, reaching $84.13. 976,512 shares of the stock were exchanged, compared to its average volume of 954,067. Raymond James has a twelve month low of $69.11 and a twelve month high of $92.00. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The company has a market cap of $11.45 billion, a P/E ratio of 13.00 and a beta of 1.52. The stock’s 50 day simple moving average is $81.93 and its 200 day simple moving average is $83.19.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.06). Raymond James had a return on equity of 16.12% and a net margin of 13.06%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $1.55 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts predict that Raymond James will post 7.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, September 30th. Raymond James’s payout ratio is currently 21.02%.

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.

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Analyst Recommendations for Raymond James (NYSE:RJF)

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