Raymond James (NYSE:RJF) Given Average Rating of “Hold” by Analysts

Shares of Raymond James (NYSE:RJF) have received an average rating of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $167.55.

Several research firms recently weighed in on RJF. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company lifted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, JMP Securities raised their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th.

Insider Transactions at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James

Several hedge funds and other institutional investors have recently modified their holdings of RJF. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Raymond James in the 4th quarter worth $17,379,000. Jefferies Financial Group Inc. bought a new position in Raymond James in the 4th quarter worth $9,366,000. Capital A Wealth Management LLC bought a new position in Raymond James in the 4th quarter worth $170,000. Integrated Advisors Network LLC bought a new position in Raymond James in the 4th quarter worth $232,000. Finally, Mackenzie Financial Corp boosted its holdings in Raymond James by 18.5% in the 4th quarter. Mackenzie Financial Corp now owns 27,590 shares of the financial services provider’s stock worth $4,286,000 after buying an additional 4,309 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Down 4.3 %

NYSE:RJF opened at $143.97 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market cap of $29.50 billion, a PE ratio of 14.05, a PEG ratio of 0.90 and a beta of 1.03. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock has a 50-day simple moving average of $160.60 and a 200 day simple moving average of $147.46.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, sell-side analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.39%. Raymond James’s dividend payout ratio is currently 19.51%.

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.