Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley raised its price target on Raymond James to $172 with an "equal weight" rating (implying about a 10.39% upside), while other broker moves include Barclays lifting its target to $182; the consensus remains a Hold with an average target of $173.25.
• The firm beat quarterly EPS expectations at $2.83 (vs. $2.76 est.) but missed revenue estimates with $3.86 billion (vs. $3.92B est.), with revenue up 13.4% year‑over‑year and a market cap of ~$30.7 billion (PE 14.72).
• Insider Bella Loykhter Allaire sold 29,551 shares for about $4.21 million, leaving insiders with just 0.58% ownership, while institutional investors own roughly 83.83% of the stock.

Raymond James Financial (NYSE:RJF - Get Free Report) had its price objective lifted by research analysts at Morgan Stanley from $171.00 to $172.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price points to a potential upside of 10.39% from the stock's previous close.

Several other analysts have also recently issued reports on RJF. Barclays reaffirmed an "overweight" rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday. Weiss Ratings upgraded Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Jefferies Financial Group decreased their price objective on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a report on Monday, April 6th. BMO Capital Markets increased their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a report on Thursday, April 23rd. Finally, TD Cowen reiterated a "hold" rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $173.25.

Raymond James Financial Stock Up 1.0%

NYSE RJF traded up $1.51 during midday trading on Tuesday, hitting $155.81. 77,278 shares of the company traded hands, compared to its average volume of 1,412,279. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market cap of $30.71 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The company's 50-day simple moving average is $149.80 and its 200-day simple moving average is $158.44. Raymond James Financial has a 52 week low of $133.89 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. As a group, equities research analysts forecast that Raymond James Financial will post 11.68 earnings per share for the current year.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of Raymond James Financial by 30.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider's stock valued at $10,390,000 after buying an additional 14,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Raymond James Financial by 28.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider's stock valued at $5,402,000 after acquiring an additional 6,953 shares during the period. Plato Investment Management Ltd grew its position in shares of Raymond James Financial by 2,000.9% during the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider's stock valued at $781,000 after acquiring an additional 4,342 shares during the period. Allianz Asset Management GmbH grew its position in shares of Raymond James Financial by 24.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider's stock valued at $10,195,000 after acquiring an additional 11,680 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Raymond James Financial during the 3rd quarter valued at about $1,487,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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