Shares of Raymond James Financial (NYSE:RJF) have received an average recommendation of “Hold” from the ten research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $101.14.
RJF has been the subject of a number of recent research reports. Credit Suisse Group restated a “hold” rating and issued a $82.00 price objective on shares of Raymond James Financial in a report on Wednesday, January 3rd. Wells Fargo restated an “outperform” rating and issued a $110.00 price objective (up from $94.00) on shares of Raymond James Financial in a report on Thursday, January 4th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $102.00 price objective on shares of Raymond James Financial in a report on Thursday, January 25th. Buckingham Research increased their price objective on Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research downgraded Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th.
NYSE RJF traded down $1.59 on Thursday, reaching $85.54. The company had a trading volume of 712,413 shares, compared to its average volume of 848,854. The company has a market capitalization of $12,687.43, a price-to-earnings ratio of 16.36, a PEG ratio of 0.75 and a beta of 1.60. Raymond James Financial has a fifty-two week low of $71.35 and a fifty-two week high of $99.26. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.53.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Raymond James Financial’s payout ratio is currently 19.12%.
In other Raymond James Financial news, COO Dennis W. Zank sold 20,003 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $98.63, for a total transaction of $1,972,895.89. Following the completion of the sale, the chief operating officer now directly owns 150,849 shares in the company, valued at approximately $14,878,236.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jennifer C. Ackart sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $91.00, for a total value of $455,000.00. Following the sale, the senior vice president now owns 7,028 shares of the company’s stock, valued at $639,548. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,878 shares of company stock valued at $3,774,080. Company insiders own 10.46% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Cerebellum GP LLC acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at about $129,000. Financial Gravity Companies Inc. acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at about $177,000. Assetmark Inc. grew its stake in shares of Raymond James Financial by 478.2% in the 4th quarter. Assetmark Inc. now owns 1,833 shares of the financial services provider’s stock valued at $164,000 after buying an additional 1,516 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Raymond James Financial by 402.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,834 shares of the financial services provider’s stock valued at $164,000 after buying an additional 1,469 shares during the period. Finally, Squar Milner Financial Services LLC acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at about $205,000. Institutional investors own 70.93% of the company’s stock.
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About Raymond James Financial
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.
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