In yesterday’s Wall Street session, Raymond James Financial Inc. (NYSE:RJF) shares traded at $94.89, up 1.05% from the previous session.
12 analysts cover Raymond James Financial Inc. (NYSE:RJF), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $118.00 and a low of $95.00, we find $109.00. Given the previous closing price of $93.90, this indicates a potential upside of 16.08 percent. RJF stock price is now 4.66% away from the 50-day moving average and -9.16% away from the 200-day moving average. The market capitalization of the company currently stands at $19.42B.
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The stock has received a hold rating from 6 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $107.78 as their price target over the next twelve months.
With the price target reduced from $130 to $120, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for Raymond James Financial Inc. (NYSE: RJF).
In other news, Perry Jodi, President, ICD for RJFS sold 6,343 shares of the company’s stock on Feb 06. The stock was sold for $712,319 at an average price of $112.30. Upon completion of the transaction, the President, ICD for RJFS now directly owns 7,150 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15, President & CEO RJBank Raney Steven M sold 5,577 shares of the business’s stock. A total of $599,972 was realized by selling the stock at an average price of $107.58. This leaves the insider owning 56,537 shares of the company worth $5.36 million. Insiders disposed of 145,972 shares of company stock worth roughly $13.85 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RJF stock. A new stake in Raymond James Financial Inc. shares was purchased by BASSWOOD PARTNERS, L.L.C. during the first quarter worth $13,210,000. CINCTIVE CAPITAL MANAGEMENT LP invested $12,874,000 in shares of RJF during the first quarter. In the first quarter, NATIXIS acquired a new stake in Raymond James Financial Inc. valued at approximately $10,236,000. INVENOMIC CAPITAL MANAGEMENT LP acquired a new stake in RJF for approximately $7,712,000. LOGAN CAPITAL MANAGEMENT INC purchased a new stake in RJF valued at around $4,559,000 in the second quarter. In total, there are 997 active investors with 77.50% ownership of the company’s stock.
On Tuesday morning Raymond James Financial Inc. (NYSE: RJF) stock kicked off with the opening price of $93.26. During the past 12 months, Raymond James Financial Inc. has had a low of $82.00 and a high of $126.00. The fifty day moving average price for RJF is $90.78 and a two-hundred day moving average price translates $104.38 for the stock.
The latest earnings results from Raymond James Financial Inc. (NYSE: RJF) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at $2.03, missing analysts’ expectations of $2.23 by -0.2. This compares to $1.52 EPS in the same period last year. The net profit margin was 13.90% and return on equity was 17.40% for RJF. The company reported revenue of $2.87 billion for the quarter, compared to $2.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.48 percent. For the current quarter, analysts expect RJF to generate $2.93B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 07/03/2023 were paid a $0.42 dividend. On an annualized basis, this represents a $1.68 dividend and a 1.77% percent yield. There was an ex-dividend date of 06/30/2023 for this dividend. In terms of dividend payout ratio, RJF is presently at 18.50%.
Raymond James Financial Inc.(RJF) Company Profile
Raymond James Financial, Inc., a diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe. The Private Client Group segment offers investment services, portfolio management services, insurance and annuity products, and mutual funds; support to third-party product partners, including sales and marketing support, as well as distribution and accounting, and administrative services; margin loans; securities borrowing and lending services; and custodial, trade execution, research, and other support and services. The Capital Markets segment provides investment banking services, including equity underwriting, debt underwriting, and merger and acquisition advisory services; and fixed income and equity brokerage services. The Asset Management segment offers asset management, portfolio management, and related administrative services to retail and institutional clients; and administrative support services, such as record-keeping. The Raymond James Bank segment provides insured deposit accounts; commercial and industrial, commercial real estate (CRE) and CRE construction, tax-exempt, residential mortgage, securities-based, and other loans; loan syndication services; and liquidity management products and services. The Other segment engages in the private equity investments, including invests in third-party funds. The company was founded in 1962 and is headquartered in St. Petersburg, Florida.
