Raymond James Financial (NYSE:RJF) Price Target Raised to $185.00

Key Points

• Raymond James Financial's price target has been raised from $180.00 to $185.00 by JMP Securities, indicating a potential upside of 11.51% from the previous close.
• Analysts provide mixed ratings, with one Strong Buy, three Buy, and nine Hold ratings, resulting in a consensus price target of $172.20.
• Notable institutional investment increases include a 1,502% increase in holdings by Victory Capital Management and a 41.6% rise in shares owned by JPMorgan Chase & Co.

Raymond James Financial (NYSE:RJF - Get Free Report) had its price target increased by research analysts at JMP Securities from $180.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the financial services provider's stock. JMP Securities' target price points to a potential upside of 11.51% from the company's previous close.

A number of other research firms have also weighed in on RJF. Morgan Stanley upped their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 1st. BMO Capital Markets assumed coverage on Raymond James Financial in a report on Friday, October 3rd. They issued a "market perform" rating and a $180.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a research note on Tuesday. Wells Fargo & Company increased their target price on shares of 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. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $172.20.

Raymond James Financial Stock Up 0.2%

NYSE RJF opened at $165.90 on Thursday. The company has a fifty day moving average of $167.91 and a two-hundred day moving average of $154.17. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial has a 52 week low of $117.57 and a 52 week high of $177.66.

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

Hedge Funds Weigh In On Raymond James Financial

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Raymond James Financial during the 2nd quarter worth about $354,446,000. Victory Capital Management Inc. grew its holdings in Raymond James Financial by 1,502.0% in the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after purchasing an additional 1,765,588 shares during the period. JPMorgan Chase & Co. increased its position 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 valued at $861,479,000 after buying an additional 1,651,380 shares in the last quarter. Nuveen LLC purchased a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $111,368,000. Finally, First Trust Advisors LP grew its stake in Raymond James Financial by 39.9% in the 2nd quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider's stock valued at $381,212,000 after acquiring an additional 709,315 shares during the period. 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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