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

Raymond James (NYSE:RJF) has been assigned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $167.55.

RJF has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JMP Securities boosted their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Morgan Stanley raised their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Bank of America lifted their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th.

Hedge Funds Weigh In On Raymond James

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in Raymond James by 4.8% in the fourth quarter. California State Teachers Retirement System now owns 276,397 shares of the financial services provider’s stock valued at $42,933,000 after acquiring an additional 12,616 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Raymond James by 11.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,628 shares of the financial services provider’s stock valued at $6,621,000 after purchasing an additional 4,269 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Raymond James in the fourth quarter valued at $17,379,000. Jefferies Financial Group Inc. purchased a new position in Raymond James during the 4th quarter worth approximately $9,366,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $170,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Down 2.6 %

Shares of Raymond James stock opened at $138.97 on Tuesday. The firm has a 50-day simple moving average of $155.00 and a two-hundred day simple moving average of $150.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market cap of $28.48 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced 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%. As a group, equities analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 is presently 19.51%.

Raymond James Company Profile

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.