Raymond James Financial, Inc. (RJF) Stock Price & Analysis
Raymond James Financial, Inc. (RJF) closed at USD 159.19 on Thursday, October 22, 2026, up 2.25% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 155.69; the Oct 22, 2026 session ranged USD 154.24–159.29 on volume of 1,366,449 shares. Market capitalization is $30.58B, with a 52-week range of USD 138.82–182.73 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:48 UTC.
Also available as compact Markdown for AI agents: nexqual.com/RJF.md
Key facts (RJF)
- Last four reported quarters (through Jun 30, 2026): revenue $17.0B, net income $2.31B (13.6% margin) (SEC filings).
- Valuation: P/E 13.3x (avg 13.9x at the last 3 fiscal year-ends).
- 2 of 80 tracked superinvestors hold RJF (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $4.1M; 3 not under a Rule 10b5-1 plan ($4.1M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.44 on a 1–5 scale) (16 analysts), mean target USD 183.86 (range 160–209).
- Total return with dividends: 1Y -2.2% vs S&P 500 +14.9%; 5Y +66.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 3.27, revenue estimate $4.24B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (RJF)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.91B | $11.3B | $13.0B | $14.9B | $15.9B | $17.0B |
| Net income | $1.40B | $1.51B | $1.74B | $2.07B | $2.13B | $2.31B |
| EPS (diluted) | $6.63 | $6.98 | $7.97 | $9.70 | $10.30 | — |
| Free cash flow | $6.57B | -$19.0M | -$3.69B | $1.95B | $2.25B | $1.44B |
| Net margin | 14.2% | 13.3% | 13.4% | 13.9% | 13.4% | 13.6% |
| Revenue growth | +21.3% | +14.1% | +14.9% | +14.9% | +6.6% | — |
| Cash + short-term investments | $7.20B | $6.18B | $9.31B | $11.0B | $11.4B | — |
| Total debt | $8.0M | $1.0M | — | — | $700M | — |
Fiscal years end Sep. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (RJF)
P/E 13.3x · P/S 1.8x · P/FCF 21.2x · P/B 2.4x · FCF yield 4.72% · Earnings yield 7.54%
P/E at fiscal year-ends: Sep 2025 16.7x, Sep 2024 12.6x, Sep 2023 12.5x.
Superinvestors (SEC 13F-HR, Q2 2026) (RJF)
2 of 80 tracked investors hold RJF. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Nygren | Oakmark Funds | 0.75% | $562M | Added +7.8% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $321K | Reduced -14.6% |
Insider sales (SEC Form 4, open-market, last ~7 months) (RJF)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-28 | Allaire Bella Loykhter | Chief Admin Officer | 7,500 | $1.3M | 13.7% | No | Too little history (no open-market trades in 2023) |
| 2026-07-28 | Elwyn Tashtego S | President, PCG | 10,000 | $1.8M | 15.9% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-07-27 | Raney Steven M | Executive Chair RJBank | 5,770 | $998K | 11.1% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (RJF)
Consensus Buy (mean 2.44 on a 1–5 scale), 16 analysts; mean target USD 183.86 (low 160, high 209).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Truist Securities | Target lowered | Hold | $188 → $166 |
| 2026-10-09 | Morgan Stanley | Target lowered | Equal-Weight | $174 → $171 |
| 2026-10-07 | UBS | Target lowered | Neutral | $184 → $179 |
| 2026-10-07 | Barclays | Target raised | Overweight | $196 → $197 |
| 2026-10-06 | BMO Capital | Target lowered | Market Perform | $175 → $170 |
| 2026-10-05 | B of A Securities | Target raised | Neutral | $196 → $198 |
| 2026-10-05 | JP Morgan | Target raised | Neutral | $179 → $185 |
| 2026-10-02 | Wells Fargo | Initiated | Equal-Weight | $172 |
| 2026-09-01 | Truist Securities | Initiated | Hold | $188 |
| 2026-09-01 | TD Cowen | Target lowered | Hold | $161 → $160 |
| 2026-07-30 | Argus Research | Target raised | Buy | $178 → $196 |
| 2026-07-27 | UBS | Target raised | Neutral | $175 → $184 |
Total return (dividends reinvested) (RJF)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -2.2% | +66.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -2.2% | +10.8% |
| Volatility (annualized) | 25.2% | 28.1% |
| Max drawdown | -18.9% (Feb 2026→Mar 2026) | -31.0% (Nov 2022→May 2023) |
RJF revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Private Client Group | $2.86B | 65.6% | +13.9% |
| Bank | $847.0M | 19.4% | +0.7% |
| Capital Markets | $500.0M | 11.5% | +23.5% |
| Asset Management | $362.0M | 8.3% | +24.4% |
| Total revenue | $4.36B | 100% | — |
RJF revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Asset Management & Related Administrative Fee Revenue | $2.08B | 47.6% | +19.7% |
| — Brokerage Revenue Securities Commissions (part of Asset Management & Related Administrative Fee Revenue) | $503.0M | 11.5% | +16.7% |
| — Account & Service Fee Revenue (part of Asset Management & Related Administrative Fee Revenue) | $316.0M | 7.2% | +4.6% |
| — Investment Banking Revenue (part of Asset Management & Related Administrative Fee Revenue) | $291.0M | 6.7% | +37.3% |
| — Account & Service Fee Revenue RJBDP Fees (part of Asset Management & Related Administrative Fee Revenue) | $283.0M | 6.5% | -6.6% |
| — Brokerage Revenue Securities Commissions Mutual & Other Fund Products (part of Asset Management & Related Administrative Fee Revenue) | $170.0M | 3.9% | +16.4% |
| — Mutual Fund & Other (part of Asset Management & Related Administrative Fee Revenue) | $149.0M | 3.4% | +18.3% |
| — Equities ET Fs & Fixed Income Products (part of Asset Management & Related Administrative Fee Revenue) | $145.0M | 3.3% | +26.1% |
| — Brokerage Revenue Securities Commissions Insurance & Annuity Products (part of Asset Management & Related Administrative Fee Revenue) | $142.0M | 3.3% | +10.1% |
| — Account & Service Fee Revenue Client Account & Other Fees (part of Asset Management & Related Administrative Fee Revenue) | $78.0M | 1.8% | +8.3% |
| Other Revenue | $57.0M | 1.3% | +23.9% |
| Investment Banking Revenue Equity Underwriting | $9.0M | 0.2% | +0.0% |
| Total revenue | $4.36B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
RJF analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $3.27 | $3.37 | -2.9% | $4.24B | 14 |
| Next quarter (ends Dec 2026) | $3.35 | $3.32 | +0.9% | $4.25B | 11 |
| Current fiscal year (ends Sep 2026) | $12.12 | $11.92 | +1.7% | $15.72B | 14 |
| Next fiscal year (ends Sep 2027) | $14.27 | $13.96 | +2.2% | $17.52B | 15 |
Key Statistics (as of October 23, 2026 at 09:48 UTC)
| Price | USD 159.19 |
|---|---|
| Change | ▲ 2.25% (up) |
| Previous Close | USD 155.69 |
| Open | USD 154.63 |
| Day Range | USD 154.24 – 159.29 |
| 52-Week Range | USD 138.82 – 182.73 |
| Volume | 1,366,449 shares |
| Market Cap | $30.58B |
| Exchange | NYQ |
Technical Analysis (RJF)
Nexqual's technical model rates RJF "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:48 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 42.46 (neutral) |
| vs SMA50 | Below (USD 167.03) |
| MACD | -2.7 (negative) |
Analyst Ratings (RJF)
Wall Street analysts rate RJF "Buy" based on 16 analysts, with a mean price target of USD 183.86 (range USD 160–209), per Nexqual as of October 23, 2026 at 09:48 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 16 |
| Mean Target | USD 183.86 |
| High Target | USD 209 |
| Low Target | USD 160 |
| Buy / Hold / Sell | 6 / 10 / 0 |
Earnings (RJF)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 3.27 |
| Revenue Estimate | $4.24B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 3.14 vs est 2.91 ▲ beat |
| 2026-03-31 | USD 2.83 vs est 2.76 ▲ beat |
| 2025-12-31 | USD 2.86 vs est 2.83 ▲ beat |
| 2025-09-30 | USD 3.11 vs est 2.83 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financials & Fundamentals (RJF)
| Total Revenue | $15.24B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +15.10% |
| Gross Margin | +93.16% |
| Operating Margin | +19.30% |
| Profit Margin | +15.13% |
| ROE | +18.42% |
| Debt / Equity | 0.48 |
| Current Ratio | 2.11 |
| Total Cash | $16.02B |
| Total Debt | $6.08B |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financial Health Score (RJF)
Nexqual rates Raymond James Financial, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:48 UTC.
| Growth | Solid — Revenue +10% YoY (annual) |
|---|---|
| Profitability | Solid — Net margin 15% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: Security Brokers, Dealers & Flotation Companies) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: Security Brokers, Dealers & Flotation Companies) |
| Efficiency | Solid — ROE 18%, ROA 2.6% |
Ownership (RJF)
| Insider Ownership | +10.55% |
|---|---|
| Institutional Ownership | +81.45% |
| Shares Outstanding | 192.10M |
| Float | 171.74M |
| Short % of Float | +3.88% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Leadership (RJF)
Raymond James Financial, Inc. is led by Paul Marone Shoukry, CEO & Director, per Nexqual as of October 23, 2026 at 09:48 UTC.
| CEO & Director | Paul Marone Shoukry |
|---|---|
| Senior VP, CFO & Controller | Jonathan W. Oorlog |
| Chief Operating Officer | Scott Alan Curtis |
| President of Private Client Group | Tashtego Spring Elwyn |
| President of Capital Markets & Advisory | James E. Bunn |
Major Backers & Investors (RJF)
Notable institutional backers of Raymond James Financial, Inc. include Wellington Management, Primecap Management Company, FMR, LLC, according to Nexqual as of October 23, 2026 at 09:48 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Wellington Management | 4.91% |
| Primecap Management Company | 4.8% |
| FMR, LLC | 2.29% |
| Harris Associates L.P. | 1.92% |
| T. Rowe Price | 1.46% |
| Fidelity | 1.17% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 10.47% |
| BlackRock | 7.46% |
| State Street | 4.1% |
| Geode Capital | 2.42% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
From Raymond James Financial, Inc.'s Latest SEC 10-K Filing (filed 2025-11-25)
Key Strengths & Strategy (as disclosed to the SEC)
- To that end, we have built strong relationships with a variety of industry associations that represent professionals from a variety of backgrounds and experiences, as well as with similar groups at the colleges and universities where we recruit.
- In the area of information security, we have developed and implemented a framework of principles, policies, and technology to protect our own information and that of our clients.
- We have developed operational plans for such disruptions, and we have devoted significant resources to maintaining those plans.
Partnerships
- Financial advisors primarily affiliate with us directly as either employees or independent contractors or as employees of third-party Registered Investment Advisors ("RIAs") and broker-dealers to which we provide services through our RIA and Custody Services ("RCS") division.
- The firm, together with its subsidiaries, is engaged in various financial services activities, including providing investment management services to retail and institutional clients, merger & acquisition and advisory services, the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products.
Legal & Regulatory Risks (Item 1A, quoted)
- The Fed requires a bank holding company to act as a source of financial and managerial strength for its subsidiary banks and could require RJF to commit resources to Raymond James Bank and TriState Capital Bank when doing so is not otherwise in the best interests of RJF or its shareholders or creditors.
- Regulatory actions brought against us may result in judgments, settlements, fines, penalties, or other results, any of which could have a material adverse effect on our business, financial condition, reputation, or results of operations.
- Changes in requirements relating to the standard of care for broker-dealers have increased, and may continue to increase, our costs.
- The Basel III regulatory capital standards impose capital and other requirements on us that could negatively impact our profitability.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| NTRS | Northern Trust Corporation | USD 165.82 | ▼ 0.65% |
| PFG | Principal Financial Group Inc | USD 110.11 | ▲ 1.54% |
| ARES | Ares Management Corporation | USD 123.7 | ▲ 5.72% |
| TROW | T. Rowe Price Group, Inc. | USD 103.45 | ▲ 0.15% |
| AMP | Ameriprise Financial, Inc. | USD 496.83 | ▲ 1.29% |
| STT | State Street Corporation | USD 167.84 | ▼ 0.66% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:48 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt