Raymond James (NYSE:RJF) Price Target Raised to $201.00

Raymond James (NYSE:RJF) had its price objective increased by equities researchers at Bank of America from $198.00 to $201.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price suggests a potential upside of 19.35% from the company’s current price.

A number of other research analysts also recently commented on RJF. Citigroup increased their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Jefferies Financial Group upped their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $166.09.

Raymond James Stock Down 1.3 %

Shares of Raymond James stock opened at $168.41 on Thursday. The company has a market capitalization of $34.42 billion, a PE ratio of 16.43, a P/E/G ratio of 1.05 and a beta of 1.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The business has a 50-day moving average of $162.36 and a 200-day moving average of $139.94.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, equities analysts forecast that Raymond James will post 11.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 64,621 shares of company stock valued at $10,729,488. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RJF. Wellington Management Group LLP grew its holdings in Raymond James by 31.4% during the 3rd 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 last quarter. JPMorgan Chase & Co. grew its stake in shares of Raymond James by 12.0% during the third 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 last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after purchasing an additional 474,443 shares in the last quarter. Two Sigma Advisers LP bought a new position in Raymond James in the 3rd quarter worth approximately $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in Raymond James during the 3rd quarter worth $28,985,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.