Raymond James (NYSE:RJF) Price Target Raised to $170.00 at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its target price lifted by investment analysts at Keefe, Bruyette & Woods from $143.00 to $170.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.69% from the stock’s current price.

Several other analysts also recently weighed in on RJF. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. TD Cowen upped their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Bank of America raised their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $169.00 price objective (up previously from $152.00) on shares of Raymond James in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price of $146.00.

Raymond James Stock Down 1.0 %

Shares of RJF opened at $150.86 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The stock has a 50 day simple moving average of $154.77 and a two-hundred day simple moving average of $130.93. The firm has a market cap of $30.78 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.91 and a beta of 1.00.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the business posted $2.13 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. On average, analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Insider Transactions at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 in the last three months. 9.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in shares of Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. State Street Corp boosted its stake in shares of Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after acquiring an additional 12,869 shares during the period. AGF Management Ltd. increased its position in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after acquiring an additional 378,033 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in Raymond James by 1.5% in the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after acquiring an additional 37,173 shares during the period. 83.83% of the stock is currently 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.