JPMorgan Chase & Co. Issues Positive Forecast for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $166.00 to $172.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.13% from the stock’s current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a research report on Monday, January 6th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, JMP Securities raised their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $166.09.

Raymond James Stock Down 1.3 %

Shares of NYSE:RJF opened at $168.41 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 $34.42 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.05 and a beta of 1.02. The stock has a 50 day moving average price of $162.36 and a 200-day moving average price of $139.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, equities research analysts anticipate that Raymond James will post 11.02 EPS for the current fiscal year.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last ninety days. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP purchased a new position in Raymond James during the second quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new position in Raymond James during the third quarter valued at $32,000. Gladius Capital Management LP purchased a new position in Raymond James during the third quarter valued at $34,000. Finally, Y.D. More Investments Ltd lifted its position in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other 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.