Raymond James (NYSE:RJF) Price Target Raised to $177.00 at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $170.00 to $177.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 5.52% from the stock’s current price.

Other equities research analysts have also issued reports about the company. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Finally, Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average price target of $161.09.

Raymond James Stock Down 2.5 %

NYSE RJF opened at $167.73 on Thursday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The firm has a market capitalization of $34.28 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.04 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $162.16 and a two-hundred day moving average of $139.40.

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

Insider Activity

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,621 shares of company stock worth $10,729,488. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in Raymond James by 20.3% during the second quarter. Mackenzie Financial Corp now owns 23,581 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 3,983 shares during the period. Creative Planning lifted its holdings in shares of Raymond James by 2.2% in the 2nd quarter. Creative Planning now owns 37,781 shares of the financial services provider’s stock valued at $4,670,000 after buying an additional 797 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Raymond James by 15.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,965 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 404 shares during the period. Quarry LP purchased a new stake in Raymond James in the 2nd quarter worth approximately $29,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Raymond James by 35.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,384 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 1,687 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.