The Goldman Sachs Group Increases Raymond James (NYSE:RJF) Price Target to $142.00

Raymond James (NYSE:RJF) had its target price upped by equities researchers at The Goldman Sachs Group from $125.00 to $142.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 2.01% from the company’s previous close.

A number of other analysts have also recently commented on the stock. JMP Securities raised shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 target price for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. UBS Group cut their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. TD Cowen raised their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company boosted their price objective on Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $137.36.

Raymond James Price Performance

Shares of RJF opened at $144.91 on Thursday. The firm has a fifty day simple moving average of $124.23 and a two-hundred day simple moving average of $121.37. The firm has a market cap of $30.04 billion, a PE ratio of 17.52, a P/E/G ratio of 0.95 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. Raymond James has a 1-year low of $93.91 and a 1-year high of $148.68.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 earnings per share. On average, equities analysts anticipate that Raymond James will post 9.55 EPS for the current year.

Insider Activity at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were 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 owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. raised its position in Raymond James by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 226,342 shares of the financial services provider’s stock valued at $25,237,000 after purchasing an additional 4,752 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of Raymond James by 32.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,033 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 1,486 shares during the last quarter. abrdn plc raised its holdings in Raymond James by 28.6% during the 3rd quarter. abrdn plc now owns 54,743 shares of the financial services provider’s stock valued at $6,676,000 after buying an additional 12,174 shares during the period. Nisa Investment Advisors LLC lifted its position in Raymond James by 5.8% in the third quarter. Nisa Investment Advisors LLC now owns 92,822 shares of the financial services provider’s stock worth $11,367,000 after buying an additional 5,100 shares during the last quarter. Finally, Cavalier Investments LLC boosted its stake in Raymond James by 6.6% during the third quarter. Cavalier Investments LLC now owns 7,815 shares of the financial services provider’s stock worth $957,000 after buying an additional 483 shares during the period. 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.