Raymond James Financial, Inc. (NYSE:RJF) had its price objective increased by Buckingham Research from $92.00 to $96.00 in a report published on Friday morning. They currently have a buy rating on the financial services provider’s stock.
A number of other equities research analysts also recently issued reports on RJF. BidaskClub upgraded Raymond James Financial from a buy rating to a strong-buy rating in a research report on Saturday, July 1st. Nomura upped their price objective on Raymond James Financial from $89.00 to $90.00 and gave the company a buy rating in a research report on Thursday, July 13th. Instinet restated a buy rating and set a $90.00 price objective (up from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Zacks Investment Research downgraded Raymond James Financial from a buy rating to a hold rating in a research report on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Raymond James Financial presently has a consensus rating of Buy and a consensus target price of $89.67.
Shares of Raymond James Financial (RJF) traded up 1.08% during trading on Friday, reaching $85.49. The company’s stock had a trading volume of 930,275 shares. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 20.33 and a beta of 1.67. Raymond James Financial has a 12-month low of $58.66 and a 12-month high of $87.22. The company has a 50 day moving average of $83.63 and a 200-day moving average of $79.39.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.97% and a net margin of 9.75%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Analysts forecast that Raymond James Financial will post $5.83 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a $0.22 dividend. The ex-dividend date was Friday, September 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.03%. Raymond James Financial’s payout ratio is 20.32%.
In other news, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the sale, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the sale, the chief executive officer now owns 128,980 shares in the company, valued at $10,727,266.60. The disclosure for this sale can be found here. Corporate insiders own 11.18% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of RJF. YorkBridge Wealth Partners LLC raised its holdings in shares of Raymond James Financial by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after buying an additional 66 shares during the period. Burt Wealth Advisors purchased a new stake in shares of Raymond James Financial in the second quarter worth approximately $150,000. Triangle Securities Wealth Management purchased a new stake in shares of Raymond James Financial in the second quarter worth approximately $206,000. Pacer Advisors Inc. raised its holdings in shares of Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after buying an additional 206 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Raymond James Financial in the second quarter worth approximately $225,000. Hedge funds and other institutional investors own 69.48% of the company’s stock.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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