Raymond James Financial, Inc. (NYSE:RJF) has been given a consensus rating of “Buy” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $89.33.
A number of analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, August 29th. Buckingham Research reiterated a “buy” rating and set a $94.00 price objective (up previously from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Wells Fargo & Company reissued a “market perform” rating and set a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. BidaskClub lowered Raymond James Financial from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Finally, Instinet reissued a “buy” rating and set a $90.00 price target (up previously from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th.
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In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the sale, the insider now owns 37,513 shares of the company’s stock, valued at $3,107,201.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the sale, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Raymond James Financial by 13.2% in the first quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock worth $68,554,000 after acquiring an additional 105,145 shares during the period. Bank of Nova Scotia bought a new position in shares of Raymond James Financial in the first quarter worth about $2,243,000. Greenwood Capital Associates LLC bought a new position in shares of Raymond James Financial in the second quarter worth about $300,000. Alliancebernstein L.P. boosted its stake in shares of Raymond James Financial by 132.5% in the first quarter. Alliancebernstein L.P. now owns 240,437 shares of the financial services provider’s stock worth $18,336,000 after acquiring an additional 137,022 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Raymond James Financial in the first quarter worth about $3,614,000. 70.02% of the stock is owned by hedge funds and other institutional investors.
Raymond James Financial (RJF) traded down 0.02% on Friday, hitting $84.33. The stock had a trading volume of 630,225 shares. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 20.05 and a beta of 1.66. The firm has a 50-day moving average of $79.30 and a 200 day moving average of $77.70. Raymond James Financial has a 52 week low of $56.06 and a 52 week high of $85.97.
Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. Raymond James Financial’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, analysts predict that Raymond James Financial will post $5.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James Financial’s dividend payout ratio is presently 20.90%.
Raymond James Financial Company Profile
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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