Analysts Set Raymond James (NYSE:RJF) Price Target at $167.55

Raymond James (NYSE:RJF) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $167.55.

A number of equities research analysts have issued reports on RJF shares. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. boosted their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley raised their price target on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th.

Raymond James Stock Down 0.2 %

RJF opened at $138.72 on Tuesday. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. 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 firm’s fifty day moving average is $154.44 and its 200 day moving average is $150.82. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings data 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 forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

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 $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Hedge Funds Weigh In On Raymond James

Several hedge funds have recently added to or reduced their stakes in RJF. TCTC Holdings LLC boosted its position in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after buying an additional 106 shares during the period. Y.D. More Investments Ltd boosted its holdings in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Plato Investment Management Ltd grew its position in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares during the last quarter. Quarry LP increased its stake in Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd lifted its position in shares of Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 122 shares during the last quarter. 83.83% of the stock is currently owned by 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.