Wells Fargo & Company Issues Pessimistic Forecast for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price target reduced by equities research analysts at Wells Fargo & Company from $169.00 to $168.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 8.14% from the company’s previous close.

A number of other analysts also recently issued reports on RJF. JMP Securities lifted their price target 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. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Bank of America boosted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.09.

Raymond James Price Performance

Shares of RJF traded up $1.14 during trading hours on Tuesday, reaching $155.35. 14,440 shares of the stock traded hands, compared to its average volume of 885,766. The company has a current ratio of 1.02, a quick ratio of 1.00 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 $171.38. The company’s 50-day moving average price is $160.21 and its two-hundred day moving average price is $135.54. The company has a market cap of $31.75 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 EPS. On average, analysts anticipate that Raymond James will post 10.85 earnings per share for the current year.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s 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 directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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 approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,621 shares of company stock worth $10,729,488. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Several large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of Raymond James in the 2nd quarter worth approximately $708,000. Choreo LLC purchased a new stake in shares of Raymond James in the 2nd quarter worth approximately $330,000. American Century Companies Inc. lifted its position in shares of Raymond James by 2.2% in the 2nd quarter. American Century Companies Inc. now owns 119,003 shares of the financial services provider’s stock worth $14,710,000 after purchasing an additional 2,531 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Raymond James by 11.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 37,312 shares of the financial services provider’s stock worth $4,519,000 after purchasing an additional 3,694 shares during the period. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of Raymond James in the 2nd quarter worth approximately $210,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.