Raymond James (NYSE:RJF) PT Raised to $140.00

Raymond James (NYSE:RJF) had its target price increased by Wells Fargo & Company from $138.00 to $140.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 10.44% from the company’s previous close.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. TD Cowen raised their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. The Goldman Sachs Group lowered their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. JMP Securities raised shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price objective for the company in a report on Wednesday. Finally, UBS Group cut their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $133.36.

Raymond James Stock Down 1.2 %

Shares of Raymond James stock opened at $126.76 on Wednesday. The firm has a market cap of $26.10 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 0.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The stock has a 50-day simple moving average of $118.40 and a 200-day simple moving average of $120.66.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share 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 firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the company earned $1.85 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Raymond James will post 9.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Elo Mutual Pension Insurance Co grew its stake in shares of Raymond James by 2.8% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 17,321 shares of the financial services provider’s stock worth $1,931,000 after purchasing an additional 472 shares during the period. MGO One Seven LLC lifted its holdings in shares of Raymond James by 65.8% in the fourth quarter. MGO One Seven LLC now owns 13,665 shares of the financial services provider’s stock valued at $1,524,000 after purchasing an additional 5,421 shares in the last quarter. Putnam Investments LLC lifted its holdings in shares of Raymond James by 8.9% in the fourth quarter. Putnam Investments LLC now owns 415,333 shares of the financial services provider’s stock valued at $46,310,000 after purchasing an additional 33,828 shares in the last quarter. Chilton Investment Co. Inc. bought a new stake in shares of Raymond James in the fourth quarter valued at about $856,000. Finally, Bragg Financial Advisors Inc lifted its holdings in shares of Raymond James by 3.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 79,041 shares of the financial services provider’s stock valued at $8,813,000 after purchasing an additional 2,635 shares in the last quarter. 83.83% of the stock is 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.