Raymond James (NYSE:RJF) Price Target Cut to $168.00 by Analysts at Wells Fargo & Company

Raymond James (NYSE:RJF) had its price objective cut by stock analysts at Wells Fargo & Company from $169.00 to $168.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 8.14% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. JMP Securities upped their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Bank of America upped their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, TD Cowen upped their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $156.09.

Raymond James Trading Up 0.7 %

RJF stock traded up $1.14 during trading on Tuesday, reaching $155.35. The company had a trading volume of 14,440 shares, compared to its average volume of 885,766. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The company has a market cap of $31.75 billion, a P/E ratio of 16.00, a PEG ratio of 0.91 and a beta of 1.02. The business has a 50 day moving average of $160.21 and a 200 day moving average of $135.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. Raymond James’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 over the last quarter. Company insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares during the period. State Street Corp raised its position in Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after acquiring an additional 54,265 shares during the period. JPMorgan Chase & Co. raised its position in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares during the period. Geode Capital Management LLC lifted its stake in shares of Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after buying an additional 12,869 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of Raymond James by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after buying an additional 37,173 shares in the last quarter. 83.83% of the stock is currently owned by 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.