Raymond James (NYSE:RJF) Stock Rating Reaffirmed by Wolfe Research

Raymond James (NYSE:RJF)‘s stock had its “peer perform” rating reiterated by Wolfe Research in a report released on Monday, MarketBeat reports.

Several other brokerages also recently weighed in on RJF. Citigroup raised their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Bank of America cut their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, TD Cowen lowered their price target on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $129.89.

Raymond James Trading Up 1.0 %

NYSE:RJF opened at $118.69 on Monday. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.81 and a beta of 1.02. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $122.14 and a 200 day moving average of $119.72.

Raymond James (NYSE:RJF) last issued its quarterly earnings data 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). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the company posted $2.03 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James will post 9.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in Raymond James in the 4th quarter worth $30,000. Smithfield Trust Co lifted its position in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd boosted its stake in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Raymond James in the 4th quarter valued at $33,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Raymond James in the 1st quarter valued at $33,000. Hedge funds and other institutional investors 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.