Raymond James (NYSE:RJF) Price Target Cut to $131.00

Raymond James (NYSE:RJF) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $132.00 to $131.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 7.50% from the company’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. UBS Group reduced their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $116.00 target price (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Finally, Citigroup increased their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.22.

Raymond James Trading Down 0.1 %

Shares of NYSE RJF opened at $121.86 on Thursday. The business’s 50 day moving average price is $123.10 and its 200-day moving average price is $112.50. The company has a market cap of $25.47 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.89 and a beta of 1.05. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 earnings per share. On average, sell-side analysts expect that Raymond James will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Raymond James

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now directly owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Several institutional investors and hedge funds have recently modified their holdings of RJF. Oak Thistle LLC purchased a new position in shares of Raymond James in the 3rd quarter valued at about $778,000. Czech National Bank increased its stake in Raymond James by 45.5% during the 3rd quarter. Czech National Bank now owns 32,852 shares of the financial services provider’s stock worth $3,299,000 after buying an additional 10,274 shares in the last quarter. Cavalier Investments LLC increased its stake in Raymond James by 3.3% during the 3rd quarter. Cavalier Investments LLC now owns 6,578 shares of the financial services provider’s stock worth $661,000 after buying an additional 209 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Raymond James by 18.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 43,235 shares of the financial services provider’s stock worth $4,342,000 after buying an additional 6,694 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Raymond James by 5.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,764 shares of the financial services provider’s stock worth $4,596,000 after buying an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.