Trade Report: Today, Raymond James Financial Inc. (RJF) Receives $58.50 Average PT from Analysts

Today, Raymond James Financial Inc. (RJF) Receives $58.50 Average PT from Analysts

Shares of Raymond James Financial Inc. (NYSE:RJF) have been given an average recommendation of “Hold” by the nine research firms that are covering the firm. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $58.50.

Several research analysts recently issued reports on RJF shares. Zacks Investment Research cut shares of Raymond James Financial from a “buy” rating to a “hold” rating in a report on Monday, September 26th. JMP Securities cut shares of Raymond James Financial from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. They noted that the move was a valuation call. Nomura reissued a “hold” rating and set a $62.00 price target on shares of Raymond James Financial in a report on Friday, September 30th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Raymond James Financial in a report on Thursday, September 22nd.

Raymond James Financial (NYSE:RJF) opened at 72.83 on Tuesday. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 19.95 and a beta of 1.51. The firm has a 50-day moving average of $62.76 and a 200-day moving average of $56.48. Raymond James Financial has a 1-year low of $39.84 and a 1-year high of $73.59.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 26th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.29. Raymond James Financial had a net margin of 9.59% and a return on equity of 11.26%. The business earned $1.46 billion during the quarter. During the same period in the previous year, the company posted $0.88 earnings per share. Raymond James Financial’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial will post $4.29 EPS for the current year.

In other news, COO Dennis W. Zank sold 10,010 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $57.64, for a total value of $576,976.40. Following the sale, the chief operating officer now directly owns 148,369 shares in the company, valued at $8,551,989.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey P. Julien sold 18,600 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $57.62, for a total transaction of $1,071,732.00. Following the completion of the sale, the chief financial officer now owns 46,407 shares in the company, valued at $2,673,971.34. The disclosure for this sale can be found here. Company insiders own 11.21% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. raised its stake in Raymond James Financial by 0.4% in the second quarter. Blue Chip Partners Inc. now owns 4,876 shares of the company’s stock valued at $240,000 after buying an additional 20 shares in the last quarter. Montag & Caldwell LLC raised its stake in Raymond James Financial by 0.5% in the second quarter. Montag & Caldwell LLC now owns 19,011 shares of the company’s stock valued at $937,000 after buying an additional 90 shares in the last quarter. Advantus Capital Management Inc raised its stake in Raymond James Financial by 0.7% in the third quarter. Advantus Capital Management Inc now owns 15,355 shares of the company’s stock valued at $894,000 after buying an additional 100 shares in the last quarter. Creative Planning raised its stake in Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock valued at $167,000 after buying an additional 149 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Raymond James Financial by 1.9% in the third quarter. M&T Bank Corp now owns 7,942 shares of the company’s stock valued at $462,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.

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