The Goldman Sachs Group Increases Raymond James (NYSE:RJF) Price Target to $142.00

Raymond James (NYSE:RJF) had its price target upped by equities researchers at The Goldman Sachs Group from $125.00 to $142.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price points to a potential downside of 2.86% from the company’s previous close.

A number of other research firms also recently commented on RJF. UBS Group decreased their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, TD Cowen lifted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $134.91.

Raymond James Stock Performance

Shares of NYSE:RJF traded up $8.82 during midday trading on Thursday, hitting $146.18. The stock had a trading volume of 218,230 shares, compared to its average volume of 1,127,637. The company has a market capitalization of $30.10 billion, a PE ratio of 16.48, a P/E/G ratio of 0.96 and a beta of 1.02. The stock has a 50 day moving average price of $123.01 and a two-hundred day moving average price of $121.08. Raymond James has a 1 year low of $91.67 and a 1 year high of $148.68. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. As a group, equities analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Insider Activity at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

Several large investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its position in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP purchased a new position in Raymond James during the 2nd quarter valued at about $29,000. Smithfield Trust Co increased its holdings in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd grew its holdings in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the third quarter worth about $32,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James 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.