Raymond James (NYSE:RJF) PT Lowered to $131.00 at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its price objective lowered by Keefe, Bruyette & Woods from $132.00 to $131.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 10.15% from the stock’s current price.

Several other equities analysts have also recently commented on RJF. UBS Group cut their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Citigroup increased their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $116.00 target price (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $124.67.

Raymond James Stock Down 6.8 %

RJF traded down $8.61 on Thursday, reaching $118.93. 668,179 shares of the company traded hands, compared to its average volume of 1,046,834. The stock’s 50 day moving average price is $122.97 and its 200-day moving average price is $112.28. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.03 earnings per share. On average, sell-side analysts expect that Raymond James will post 9.45 EPS for the current fiscal year.

Insider Activity at Raymond James

In other news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Art A. Garcia purchased 879 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new position in Raymond James during the 3rd quarter valued at about $778,000. Czech National Bank grew its holdings in Raymond James by 45.5% during the 3rd quarter. Czech National Bank now owns 32,852 shares of the financial services provider’s stock valued at $3,299,000 after buying an additional 10,274 shares in the last quarter. Cavalier Investments LLC boosted its position in shares of Raymond James by 3.3% during the 3rd quarter. Cavalier Investments LLC now owns 6,578 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 209 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Raymond James by 18.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 43,235 shares of the financial services provider’s stock valued at $4,342,000 after acquiring an additional 6,694 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Raymond James by 5.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,764 shares of the financial services provider’s stock valued at $4,596,000 after buying an additional 2,200 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.