TD Cowen Lowers Raymond James Financial (NYSE:RJF) Price Target to $155.00

Key Points

• TD Cowen lowered its price target on Raymond James Financial to $155 from $159 and kept a hold rating, implying about 9% upside from the current price.
• The stock traded down 2.2% to $142.16, near its 52-week low of $138.82 and below its 50-day and 200-day moving averages.
• Raymond James recently beat earnings expectations with $2.83 EPS versus $2.76 expected, though revenue of $3.86 billion came in slightly below estimates.

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price decreased by research analysts at TD Cowen from $159.00 to $155.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. TD Cowen's price objective suggests a potential upside of 9.03% from the stock's current price.

A number of other equities analysts also recently issued reports on RJF. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets boosted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. Morgan Stanley lifted their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. UBS Group reaffirmed a "neutral" rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Jefferies Financial Group cut 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. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $172.92.

Raymond James Financial Trading Down 2.2%

Shares of RJF stock traded down $3.24 during trading hours on Thursday, hitting $142.16. 331,609 shares of the company were exchanged, compared to its average volume of 1,388,884. The company has a 50 day simple moving average of $149.86 and a two-hundred day simple moving average of $157.37. Raymond James Financial has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market cap of $27.70 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.17 and a beta of 0.99.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly 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. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $2.42 EPS. Raymond James Financial's revenue was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Raymond James Financial will post 11.83 EPS for the current year.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.58% of the company's stock.

Institutional Trading of Raymond James Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. raised its holdings in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock valued at $625,000 after acquiring an additional 61 shares in the last quarter. Meridian Wealth Advisors LLC raised its holdings in Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider's stock worth $1,763,000 after purchasing an additional 62 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of Raymond James Financial by 2.5% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider's stock valued at $447,000 after acquiring an additional 68 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in shares of Raymond James Financial by 1.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock valued at $892,000 after acquiring an additional 68 shares in the last quarter. 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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