Raymond James (NYSE:RJF) PT Raised to $133.00

Raymond James (NYSE:RJF) had its price objective lifted by investment analysts at TD Cowen from $130.00 to $133.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 12.06% from the stock’s previous close.

Other analysts have also issued reports about the stock. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday. Citigroup lifted their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods cut their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Bank of America decreased their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $129.89.

Raymond James Price Performance

Raymond James stock opened at $118.69 on Monday. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The firm has a market capitalization of $24.60 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.81 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $122.14 and a 200-day simple moving average of $119.72.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company earned $2.03 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Raymond James will post 9.55 EPS for the current fiscal year.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Raymond James during the fourth quarter worth approximately $238,830,000. Heritage Wealth Advisors raised its position in shares of Raymond James by 3,480.7% in the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after buying an additional 474,622 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Raymond James by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after acquiring an additional 263,687 shares during the last quarter. Wellington Management Group LLP grew its position in Raymond James by 2.2% during the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the period. Finally, SG Americas Securities LLC grew its position in Raymond James by 820.2% during the first quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock valued at $25,388,000 after acquiring an additional 176,210 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.