JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $151.00 to $172.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 3.03% from the company's previous close.

Other research analysts have also issued reports about the stock. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. The Goldman Sachs Group dropped their price objective on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. JMP Securities lifted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Raymond James Financial has a consensus rating of "Hold" and a consensus target price of $164.50.

Raymond James Financial Stock Up 3.8%

NYSE:RJF traded up $6.07 during trading hours on Thursday, hitting $166.94. 902,342 shares of the stock traded hands, compared to its average volume of 1,360,372. The firm has a 50 day moving average price of $151.88 and a 200 day moving average price of $149.91. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm has a market cap of $33.68 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.33 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.39 EPS. Equities research analysts anticipate that Raymond James Financial will post 11.17 earnings per share for the current year.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider directly owned 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Raymond James Financial

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. grew its position in shares of Raymond James Financial by 42.7% during the fourth quarter. American Century Companies Inc. now owns 177,933 shares of the financial services provider's stock worth $27,638,000 after acquiring an additional 53,219 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Raymond James Financial by 12.6% during the fourth quarter. LPL Financial LLC now owns 97,692 shares of the financial services provider's stock valued at $15,175,000 after acquiring an additional 10,906 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Raymond James Financial by 15.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,154 shares of the financial services provider's stock valued at $490,000 after acquiring an additional 413 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Raymond James Financial by 9.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 291,192 shares of the financial services provider's stock worth $45,927,000 after purchasing an additional 24,494 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Raymond James Financial by 19.3% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 20,881 shares of the financial services provider's stock worth $3,243,000 after purchasing an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial 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.

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