Raymond James Financial (NYSE:RJF) Price Target Raised to $180.00 at JMP Securities

Raymond James Financial (NYSE:RJF - Get Free Report) had its price target hoisted by investment analysts at JMP Securities from $175.00 to $180.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the financial services provider's stock. JMP Securities' price objective indicates a potential upside of 13.55% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Bank of America cut shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research report on Wednesday, April 30th. The Goldman Sachs Group reduced 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 research report on Thursday, April 3rd. JPMorgan Chase & Co. increased their target price on shares of Raymond James Financial from $143.00 to $151.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Citigroup increased their target price on shares of Raymond James Financial from $150.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Finally, Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $160.50.

Raymond James Financial Stock Performance

NYSE RJF traded up $0.12 during mid-day trading on Monday, reaching $158.52. 37,113 shares of the stock were exchanged, compared to its average volume of 1,324,073. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The business's 50 day moving average is $150.08 and its 200-day moving average is $149.73. The company has a market capitalization of $31.98 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.31 and a beta of 1.02. Raymond James Financial has a 1 year low of $104.24 and a 1 year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 earnings per share. On average, equities research analysts forecast that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Raymond James Financial

A number of institutional investors have recently made changes to their positions in RJF. HighTower Advisors LLC increased its position in shares of Raymond James Financial by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 17,843 shares of the financial services provider's stock valued at $2,771,000 after acquiring an additional 546 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Raymond James Financial by 24.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,969 shares of the financial services provider's stock valued at $461,000 after acquiring an additional 587 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Raymond James Financial during the fourth quarter valued at about $250,000. Commonwealth Equity Services LLC increased its position in shares of Raymond James Financial by 2.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 53,853 shares of the financial services provider's stock valued at $8,365,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Raymond James Financial by 5.7% during the fourth quarter. Natixis Advisors LLC now owns 252,643 shares of the financial services provider's stock valued at $39,242,000 after acquiring an additional 13,512 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

About Raymond James Financial

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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