Raymond James (NYSE:RJF) Upgraded to Market Outperform by JMP Securities

Raymond James (NYSE:RJF) was upgraded by equities researchers at JMP Securities from a “market perform” rating to a “market outperform” rating in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a $146.00 price target on the financial services provider’s stock. JMP Securities’ price target indicates a potential upside of 16.87% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. dropped their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wells Fargo & Company started coverage on Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective on the stock. UBS Group dropped their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group dropped their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.18.

Raymond James Trading Down 0.4 %

NYSE:RJF opened at $124.92 on Wednesday. The firm has a market cap of $25.89 billion, a P/E ratio of 15.11, a PEG ratio of 0.79 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $117.86 and its 200-day simple moving average is $120.57. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. Raymond James’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Insider Activity

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. 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

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Raymond James during the second quarter worth about $29,000. Covestor Ltd lifted its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the period. Smithfield Trust Co lifted its position in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after buying an additional 126 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the 1st quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 137 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.