Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $81.00.
A number of brokerages have recently issued reports on RJF. Instinet cut their price target on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a report on Wednesday, May 24th. Finally, Nomura reiterated a “buy” rating and issued a $94.00 price target on shares of Raymond James Financial in a report on Tuesday, May 2nd.
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In other Raymond James Financial news, SVP Jennifer C. Ackart sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $79.44, for a total transaction of $198,600.00. Following the sale, the senior vice president now owns 17,999 shares in the company, valued at approximately $1,429,840.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Dennis W. Zank sold 6,054 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $81.57, for a total value of $493,824.78. Following the sale, the chief operating officer now owns 140,339 shares in the company, valued at approximately $11,447,452.23. The disclosure for this sale can be found here. 11.18% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Tower Bridge Advisors increased its stake in Raymond James Financial by 15.6% in the third quarter. Tower Bridge Advisors now owns 84,589 shares of the financial services provider’s stock valued at $4,924,000 after buying an additional 11,434 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Raymond James Financial by 3.6% in the third quarter. Great West Life Assurance Co. Can now owns 97,282 shares of the financial services provider’s stock valued at $5,661,000 after buying an additional 3,371 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Raymond James Financial by 1.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,118 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 279 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in Raymond James Financial by 1.1% in the third quarter. Rothschild Asset Management Inc. now owns 233,653 shares of the financial services provider’s stock valued at $13,601,000 after buying an additional 2,607 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Raymond James Financial by 3,580.0% in the third quarter. Synovus Financial Corp now owns 5,704 shares of the financial services provider’s stock valued at $334,000 after buying an additional 5,549 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.
Raymond James Financial (NYSE RJF) opened at 73.68 on Tuesday. The company has a 50 day moving average price of $74.50 and a 200-day moving average price of $74.41. The company has a market capitalization of $10.56 billion, a PE ratio of 19.25 and a beta of 1.53. Raymond James Financial has a one year low of $46.30 and a one year high of $81.92.
Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. Raymond James Financial had a return on equity of 12.02% and a net margin of 9.91%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $0.90 EPS. The business’s revenue was up 19.1% compared to the same quarter last year. Analysts expect that Raymond James Financial will post $4.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.88 annualized dividend and a yield of 1.19%. Raymond James Financial’s dividend payout ratio (DPR) is 22.34%.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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