Raymond James (NYSE:RJF) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Raymond James (NYSE:RJF) had its target price raised by research analysts at Wells Fargo & Company from $168.00 to $176.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 4.51% from the company’s previous close.

A number of other brokerages have also recently commented on RJF. TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Morgan Stanley lifted their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $166.09.

Raymond James Price Performance

Shares of NYSE:RJF opened at $168.41 on Thursday. The firm has a market capitalization of $34.42 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The business’s 50 day simple moving average is $162.36 and its 200-day simple moving average is $139.94. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, equities 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 Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. State Street Corp boosted its position in Raymond James by 0.7% during the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after purchasing an additional 54,265 shares during the period. JPMorgan Chase & Co. increased its holdings in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares in the last quarter. Geode Capital Management LLC raised its position in Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after purchasing an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Raymond James by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after purchasing an additional 7,121 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

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.