Raymond James Financial (NYSE:RJF) Price Target Raised to $163.00

Raymond James Financial (NYSE:RJF - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $155.00 to $163.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target would indicate a potential upside of 2.24% from the stock's previous close.

A number of other research analysts have also recently commented on RJF. JMP Securities restated a "market outperform" rating and set a $175.00 price target on shares of Raymond James Financial in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $143.00 to $151.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Bank of America lowered 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 note on Wednesday, April 30th. Ten equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and a consensus price target of $160.50.

Raymond James Financial Trading Up 0.6%

RJF traded up $1.03 on Friday, hitting $159.43. The company had a trading volume of 918,021 shares, compared to its average volume of 1,327,409. The company's fifty day moving average price is $150.08 and its 200 day moving average price is $149.73. Raymond James Financial has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The firm has a market cap of $32.17 billion, a P/E ratio of 15.34, a PEG ratio of 1.31 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results 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). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. Raymond James Financial's revenue was up 9.0% on a year-over-year basis. As a group, equities analysts expect that Raymond James Financial will post 11.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction on 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 transaction, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider directly owned 78,227 shares of the company's stock, valued at $10,677,203.23. This trade represents 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

Several institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the 1st quarter valued at $25,000. TCTC Holdings LLC grew its position in Raymond James Financial by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after buying an additional 106 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its stake in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new position in Raymond James Financial in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

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.