Raymond James (NYSE:RJF) Receives $94.14 Consensus Price Target from Analysts

Shares of Raymond James (NYSE:RJF) have been assigned an average rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $94.00.

Several research analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, September 19th. ValuEngine downgraded shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th.

Shares of RJF stock traded down $0.48 on Thursday, hitting $83.81. The stock had a trading volume of 678,543 shares, compared to its average volume of 936,855. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 12.95 and a beta of 1.51. The stock’s 50 day moving average is $79.49 and its 200-day moving average is $83.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11. Raymond James has a 52-week low of $69.11 and a 52-week high of $96.10.



Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.06). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Raymond James had a net margin of 13.06% and a return on equity of 16.12%. Raymond James’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. Equities analysts expect that Raymond James will post 7.4 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.34 dividend. The ex-dividend date is Monday, September 30th. Raymond James’s dividend payout ratio is presently 21.02%.

In related news, EVP Jonathan N. Santelli sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $84.80, for a total value of $101,760.00. Following the sale, the executive vice president now directly owns 1,078 shares of the company’s stock, valued at $91,414.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey P. Julien sold 15,756 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $78.59, for a total transaction of $1,238,264.04. Following the completion of the sale, the chief financial officer now directly owns 39,592 shares in the company, valued at $3,111,535.28. The disclosure for this sale can be found here. Insiders sold 25,354 shares of company stock worth $2,053,098 over the last ninety days. 10.74% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Raymond James by 0.3% in the second quarter. Vanguard Group Inc. now owns 13,785,926 shares of the financial services provider’s stock valued at $1,165,599,000 after acquiring an additional 43,281 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Raymond James by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 2,527,322 shares of the financial services provider’s stock valued at $208,503,000 after acquiring an additional 69,935 shares in the last quarter. Primecap Management Co. CA raised its holdings in Raymond James by 5.9% in the second quarter. Primecap Management Co. CA now owns 2,159,350 shares of the financial services provider’s stock valued at $182,573,000 after acquiring an additional 119,400 shares in the last quarter. Earnest Partners LLC raised its holdings in Raymond James by 1.0% in the second quarter. Earnest Partners LLC now owns 1,828,540 shares of the financial services provider’s stock valued at $154,603,000 after acquiring an additional 18,070 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Raymond James by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 1,787,923 shares of the financial services provider’s stock valued at $151,170,000 after acquiring an additional 175,088 shares in the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Raymond James (NYSE:RJF)

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