Raymond James (NYSE:RJF) Price Target Raised to $190.00

Raymond James (NYSE:RJF) had its price target hoisted by equities research analysts at JMP Securities from $175.00 to $190.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price target would suggest a potential upside of 13.27% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $161.09.

Raymond James Trading Down 2.5 %

Shares of NYSE:RJF opened at $167.73 on Thursday. The business has a 50 day moving average of $162.16 and a two-hundred day moving average of $139.40. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a market capitalization of $34.28 billion, a PE ratio of 17.17, a PEG ratio of 1.04 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. As a group, analysts forecast that Raymond James will post 11.02 EPS for the current year.

Insiders Place Their Bets

In other Raymond James news, 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 owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last three months. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake 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 valued at $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after purchasing an additional 488,245 shares during the period. Ceredex Value Advisors LLC grew its position in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Raymond James during the 3rd quarter valued at about $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Raymond James during the 3rd quarter worth about $28,985,000. Institutional investors and hedge funds 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.