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

Raymond James Financial (NYSE:RJF - Get Free Report) had its price objective hoisted by research analysts at Wells Fargo & Company from $155.00 to $163.00 in a 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 points to a potential upside of 2.85% from the company's current price.

A number of other analysts have also issued reports on RJF. Bank of America lowered Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a report on Wednesday, April 30th. Citigroup raised their target price on Raymond James Financial from $150.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $175.00 target price on shares of Raymond James Financial in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $143.00 to $151.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and a consensus target price of $160.00.

Raymond James Financial Stock Performance

Shares of RJF stock traded down $1.71 during trading on Friday, reaching $158.49. The company had a trading volume of 1,050,932 shares, compared to its average volume of 1,326,895. The firm's 50 day simple moving average is $150.08 and its two-hundred day simple moving average is $149.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial has a one year low of $104.24 and a one year high of $174.32. The company has a market capitalization of $31.98 billion, a PE ratio of 15.25, a PEG ratio of 1.33 and a beta of 1.02.

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

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider directly owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider directly 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 Trading of Raymond James Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in RJF. Jones Financial Companies Lllp increased its stake in shares of Raymond James Financial by 30.1% in the fourth quarter. Jones Financial Companies Lllp now owns 1,011 shares of the financial services provider's stock valued at $157,000 after buying an additional 234 shares in the last quarter. Assetmark Inc. increased its stake in shares of Raymond James Financial by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock valued at $70,000 after buying an additional 138 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at $21,334,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Raymond James Financial by 3.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,326 shares of the financial services provider's stock valued at $10,147,000 after buying an additional 2,424 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its stake in shares of Raymond James Financial by 158.2% in the fourth quarter. Wealthfront Advisers LLC now owns 19,178 shares of the financial services provider's stock valued at $2,979,000 after buying an additional 11,751 shares in 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.