Raymond James (NYSE:RJF) Price Target Cut to $125.00

Raymond James (NYSE:RJF) had its price objective reduced by stock analysts at The Goldman Sachs Group from $127.00 to $125.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 2.07% from the stock’s previous close.

RJF has been the subject of a number of other reports. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen upped their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wells Fargo & Company started coverage on Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, UBS Group lowered their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $131.60.

Raymond James Stock Down 0.0 %

RJF stock opened at $122.46 on Thursday. The firm has a market cap of $25.22 billion, a PE ratio of 14.81, a PEG ratio of 0.84 and a beta of 1.02. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a fifty day simple moving average of $116.43 and a 200 day simple moving average of $120.46. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company posted $1.85 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

A number of hedge funds have recently modified their holdings of RJF. Quarry LP acquired a new stake in Raymond James in the 2nd quarter valued at $29,000. Covestor Ltd grew its holdings in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Smithfield Trust Co increased its position in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Raymond James during the 1st quarter valued at about $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Raymond James in the fourth quarter valued at about $33,000. 83.83% of the stock is owned by institutional investors and hedge funds.

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.