Raymond James (NYSE:RJF) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Raymond James (NYSE:RJF – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. Keefe, Bruyette & Woods raised their target price on Raymond James from $120.00 to $126.00 and gave the stock a market perform rating in a research report on Thursday, January 12th. UBS Group decreased their target price on Raymond James from $127.00 to $125.00 and set a neutral rating for the company in a research note on Monday, January 9th. The Goldman Sachs Group decreased their target price on Raymond James from $148.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, January 4th. Finally, Credit Suisse Group cut their price target on Raymond James from $119.00 to $116.00 and set a neutral rating on the stock in a report on Thursday, January 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $122.86.

Raymond James Price Performance

Raymond James stock opened at $88.02 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.96. The company has a market capitalization of $18.96 billion, a PE ratio of 12.26 and a beta of 1.05. Raymond James has a one year low of $84.86 and a one year high of $126.00. The business has a 50 day simple moving average of $108.88 and a 200 day simple moving average of $109.71.

Raymond James (NYSE:RJF – Get Rating) last posted its earnings results on Wednesday, January 25th. The financial services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $2.28 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.83 billion. Raymond James had a return on equity of 17.78% and a net margin of 13.65%. Raymond James’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. On average, sell-side analysts forecast that Raymond James will post 9.44 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Monday, April 3rd will be paid a $0.42 dividend. The ex-dividend date is Friday, March 31st. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. Raymond James’s dividend payout ratio is presently 23.40%.

Insider Activity at Raymond James

In related news, insider Jodi Perry sold 6,343 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $112.30, for a total value of $712,318.90. Following the transaction, the insider now owns 7,150 shares of the company’s stock, valued at approximately $802,945. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Raymond James

Several hedge funds have recently modified their holdings of RJF. RFP Financial Group LLC bought a new stake in shares of Raymond James in the 4th quarter worth approximately $35,000. Covestor Ltd grew its stake in Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after buying an additional 138 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Raymond James in the 4th quarter valued at approximately $41,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Raymond James during the 3rd quarter valued at $44,000. Finally, Alta Advisers Ltd purchased a new position in shares of Raymond James during the 3rd quarter valued at $49,000. Institutional investors own 74.77% of the company’s stock.

About Raymond James

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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.