Morgan Stanley Raises Raymond James Financial (NYSE:RJF) Price Target to $184.00

Key Points

• Morgan Stanley increased the price target for Raymond James Financial from $176.00 to $184.00, indicating a potential upside of 9.58% from the company's previous closing price.
• Several analysts have provided positive adjustments to their price targets for Raymond James, with Citigroup setting a new target of $180.00 and JMP Securities raising theirs to $180.00 as well.
• The stock currently has a consensus rating of "Hold" among analysts, with a typical price target of $165.70, reflecting a mix of ratings from strong buy to hold.

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $176.00 to $184.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target points to a potential upside of 9.58% from the company's previous close.

Several other analysts have also commented on RJF. Citigroup restated a "neutral" rating and set a $180.00 price target (up previously from $170.00) on shares of Raymond James Financial in a research report on Monday, September 22nd. JMP Securities raised their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $165.70.

Raymond James Financial Stock Performance

Raymond James Financial stock traded down $4.19 during midday trading on Wednesday, hitting $167.92. 356,041 shares of the company were exchanged, compared to its average volume of 1,275,822. The business has a fifty day simple moving average of $167.98 and a two-hundred day simple moving average of $153.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market capitalization of $33.48 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04. Raymond James Financial has a fifty-two week low of $117.57 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, sell-side analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current year.

Institutional Trading of Raymond James Financial

Several large investors have recently made changes to their positions in RJF. Vanguard Group Inc. boosted its stake in Raymond James Financial by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider's stock worth $3,089,942,000 after purchasing an additional 347,916 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Raymond James Financial by 3.0% in the second quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider's stock worth $1,535,824,000 after buying an additional 295,163 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider's stock worth $861,479,000 after buying an additional 1,651,380 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Raymond James Financial by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider's stock worth $574,590,000 after acquiring an additional 29,086 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Raymond James Financial by 19.1% during the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock valued at $403,038,000 after acquiring an additional 466,129 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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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