Raymond James (NYSE:RJF) Price Target Raised to $145.00

Raymond James (NYSE:RJF) had its target price upped by analysts at Morgan Stanley from $132.00 to $145.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 2.13% from the stock’s previous close.

A number of other brokerages have also recently issued reports on RJF. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. UBS Group decreased their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company upped their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Bank of America boosted their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price target 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. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $139.36.

Raymond James Stock Up 2.2 %

RJF stock opened at $148.16 on Tuesday. Raymond James has a fifty-two week low of $93.91 and a fifty-two week high of $148.68. The stock has a fifty day moving average of $124.88 and a 200-day moving average of $121.44. The company has a market capitalization of $30.51 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $2.13 earnings per share. As a group, equities research analysts predict that Raymond James will post 10.32 earnings per share for the current year.

Insider Buying and Selling at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Raymond James

Several hedge funds have recently added to or reduced their stakes in RJF. Gladstone Institutional Advisory LLC boosted its stake in Raymond James by 9.4% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 9,861 shares of the financial services provider’s stock worth $1,208,000 after purchasing an additional 845 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Raymond James by 1.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 284,168 shares of the financial services provider’s stock worth $34,799,000 after buying an additional 3,219 shares in the last quarter. US Bancorp DE grew its holdings in shares of Raymond James by 1.9% during the third quarter. US Bancorp DE now owns 72,947 shares of the financial services provider’s stock valued at $8,933,000 after buying an additional 1,393 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Raymond James by 8.7% during the third quarter. Congress Asset Management Co. now owns 975,601 shares of the financial services provider’s stock valued at $119,472,000 after acquiring an additional 78,202 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Raymond James by 2.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 226,342 shares of the financial services provider’s stock valued at $25,237,000 after purchasing an additional 4,752 shares during the last quarter. 83.83% of the stock is owned by 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.