Raymond James (NYSE:RJF) Price Target Raised to $176.00

Raymond James (NYSE:RJF) had its target price boosted by analysts at Wells Fargo & Company from $168.00 to $176.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 2.25% from the company’s current price.

Other research analysts have also issued reports about the stock. JMP Securities raised their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods raised their price objective on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus target price of $156.82.

Raymond James Stock Up 0.4 %

RJF opened at $172.13 on Thursday. The company has a market capitalization of $35.18 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The firm has a 50-day simple moving average of $162.16 and a two-hundred day simple moving average of $139.40. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. Analysts forecast that Raymond James will post 11.02 earnings per share for the current fiscal year.

Insider Transactions at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wolff Wiese Magana LLC lifted its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the period. Quarry LP bought a new position in shares of Raymond James in the 2nd quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the 3rd quarter worth $32,000. Gladius Capital Management LP bought a new stake in Raymond James during the third quarter valued at about $34,000. Finally, Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

About Raymond James

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.