Keefe, Bruyette & Woods Issues Positive Forecast for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF - Get Free Report) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $167.00 to $170.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 1.96% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company increased their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Finally, Morgan Stanley increased their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

NYSE RJF traded up $5.87 on Thursday, hitting $166.74. The stock had a trading volume of 1,189,898 shares, compared to its average volume of 1,362,737. Raymond James Financial has a one year low of $104.24 and a one year high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock has a market cap of $33.64 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.33 and a beta of 1.02. The company's 50-day moving average is $151.88 and its two-hundred day moving average is $149.91.

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

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction that occurred 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 sale, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider owned 78,227 shares in the company, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial in the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in Raymond James Financial in the 1st quarter worth $27,000. Golden State Wealth Management LLC grew its position in Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in Raymond James Financial in the 1st quarter worth $33,000. Finally, TCTC Holdings LLC grew its position in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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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