Raymond James (NYSE:RJF) Price Target Raised to $170.00

Raymond James (NYSE:RJF) had its target price upped by Keefe, Bruyette & Woods from $143.00 to $170.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.64% from the stock’s previous close.

A number of other brokerages also recently issued reports on RJF. TD Cowen increased their price target 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. Bank of America increased their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JMP Securities boosted their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group upped their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $146.00.

Raymond James Stock Up 2.8 %

Raymond James stock opened at $155.05 on Friday. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.91 and a beta of 1.00. The firm has a 50 day simple moving average of $155.28 and a 200 day simple moving average of $131.17. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.13 EPS. On average, analysts predict that Raymond James will post 10.85 earnings per share for the current year.

Insiders Place Their Bets

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction dated 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 $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last quarter. 9.74% of the stock is owned by corporate insiders.

Institutional Trading of Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of RJF. Wellington Management Group LLP increased its stake in shares of 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 buying an additional 2,898,242 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Raymond James by 191.3% during the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares during the period. AGF Management Ltd. grew its stake in shares of Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Raymond James during the 3rd quarter valued at about $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in Raymond James during the 3rd quarter valued at approximately $28,985,000. Institutional investors own 83.83% of the company’s stock.

About Raymond James

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.