Raymond James (NYSE:RJF) Stock Rating Upgraded by The Goldman Sachs Group

Raymond James (NYSE:RJF) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage currently has a $185.00 target price on the financial services provider’s stock, up from their prior target price of $161.00. The Goldman Sachs Group’s price target suggests a potential upside of 17.30% from the stock’s previous close.

Several other brokerages also recently weighed in on RJF. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Wells Fargo & Company restated an “equal weight” rating and set a $169.00 price target (up previously from $152.00) on shares of Raymond James in a report on Thursday, December 12th. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America increased their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $149.91.

Raymond James Price Performance

Shares of RJF opened at $157.72 on Monday. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The company has a market capitalization of $32.18 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The firm has a 50 day moving average of $158.98 and a 200 day moving average of $134.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

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

Insider Transactions at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, 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. Over the last three months, insiders have sold 64,621 shares of company stock valued at $10,729,488. Corporate insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its stake in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP acquired a new position in Raymond James in the 2nd quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 3rd quarter valued at approximately $32,000. Gladius Capital Management LP acquired a new stake in Raymond James during the 3rd quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the 3rd quarter valued at $37,000. Institutional investors and hedge funds 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.