Today, Raymond James Financial Inc. (RJF) Receives $58.50 Consensus Target Price from Analysts

Today, Raymond James Financial Inc. (RJF) Receives $58.50 Consensus Target Price from Analysts

Shares of Raymond James Financial Inc. (NYSE:RJF) have received a consensus rating of “Hold” from the nine research firms that are currently covering the company. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $58.50.

Several research firms have recently weighed in on RJF. Zacks Investment Research upgraded shares of Raymond James Financial from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th. JMP Securities cut shares of Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. They noted that the move was a valuation call. Nomura restated a “hold” rating and set a $62.00 price objective on shares of Raymond James Financial in a research report on Friday, September 30th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, September 22nd.

Shares of Raymond James Financial (NYSE:RJF) opened at 72.50 on Tuesday. The company has a market cap of $10.25 billion, a PE ratio of 19.86 and a beta of 1.51. The firm’s 50-day moving average is $63.24 and its 200-day moving average is $56.64. Raymond James Financial has a 12 month low of $39.84 and a 12 month high of $73.59.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm earned $1.46 billion during the quarter. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts predict that Raymond James Financial will post $4.29 earnings per share for the current year.

In other Raymond James Financial news, CFO Jeffrey P. Julien sold 18,600 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $57.62, for a total value of $1,071,732.00. Following the transaction, the chief financial officer now owns 46,407 shares in the company, valued at $2,673,971.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Dennis W. Zank sold 10,010 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $57.64, for a total transaction of $576,976.40. Following the completion of the transaction, the chief operating officer now owns 148,369 shares in the company, valued at approximately $8,551,989.16. The disclosure for this sale can be found here. 11.21% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. boosted its position in Raymond James Financial by 172.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 415,210 shares of the company’s stock worth $24,168,000 after buying an additional 262,897 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Raymond James Financial by 46.1% in the third quarter. Ameritas Investment Partners Inc. now owns 57,300 shares of the company’s stock worth $3,335,000 after buying an additional 18,083 shares during the last quarter. Verition Fund Management LLC purchased a new position in Raymond James Financial during the third quarter worth about $345,000. Robecosam AG boosted its position in Raymond James Financial by 29.0% in the third quarter. Robecosam AG now owns 2,000 shares of the company’s stock worth $113,000 after buying an additional 450 shares during the last quarter. Finally, Eaton Vance Management purchased a new position in Raymond James Financial during the third quarter worth about $1,032,000. Hedge funds and other institutional investors own 71.14% of the company’s stock.

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