Raymond James (NYSE:RJF) Receives $167.55 Average Price Target from Brokerages

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

A number of equities analysts recently commented on RJF shares. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup boosted their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Morgan Stanley increased their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th.

Institutional Investors Weigh In On Raymond James

Several large investors have recently modified their holdings of the business. Coldstream Capital Management Inc. raised its stake in shares of Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional raised its position in Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after buying an additional 66 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in Raymond James by 3.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 67 shares during the period. Formidable Asset Management LLC boosted its holdings in shares of Raymond James by 0.9% in the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock valued at $1,227,000 after acquiring an additional 67 shares during the last quarter. Finally, Stablepoint Partners LLC increased its stake in shares of Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 73 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 2.6 %

Shares of RJF stock opened at $138.97 on Tuesday. The company has a market cap of $28.48 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The stock’s 50 day simple moving average is $155.00 and its two-hundred day simple moving average is $150.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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%. Research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 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.