Raymond James (NYSE:RJF) Given Average Recommendation of “Hold” by Brokerages

Shares of Raymond James (NYSE:RJF) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $129.89.

A number of analysts have weighed in on RJF shares. JPMorgan Chase & Co. reduced their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. UBS Group lowered their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Bank of America lowered their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, TD Cowen upped their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th.

Raymond James Trading Up 0.6 %

Shares of NYSE RJF opened at $115.95 on Monday. The stock has a market cap of $23.88 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.78 and a beta of 1.02. The business has a 50 day simple moving average of $116.24 and a 200 day simple moving average of $120.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. On average, research analysts predict that Raymond James will post 9.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RJF. Drive Wealth Management LLC increased its position in Raymond James by 3.4% in the 1st quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 85 shares in the last quarter. Steph & Co. grew its stake in shares of Raymond James by 9.3% during the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 91 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares in the last quarter. Federated Hermes Inc. raised its position in Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after buying an additional 96 shares in the last quarter. 83.83% of the stock is 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.