Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, Citigroup Analyst Says

Raymond James Financial (NYSE:RJF) had its price target raised by analysts at Citigroup from $150.00 to $165.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price points to a potential upside of 5.23% from the company’s current price.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. JMP Securities reiterated a “market outperform” rating and set a $175.00 price target on shares of Raymond James Financial in a research report on Thursday, April 24th. Bank of America downgraded Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company dropped their target price on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Eleven 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 company. According to MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and a consensus price target of $155.18.

Raymond James Financial Stock Down 2.0%

NYSE RJF traded down $3.20 on Monday, reaching $156.80. The company had a trading volume of 581,750 shares, compared to its average volume of 1,330,120. The stock has a market capitalization of $31.64 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.92 and a beta of 1.02. The company’s fifty day moving average is $148.07 and its 200 day moving average is $149.67. Raymond James Financial has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the business earned $2.31 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider owned 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider directly owned 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

A number of institutional investors and hedge funds have recently modified their holdings of RJF. Norges Bank purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at $294,647,000. Victory Capital Management Inc. raised its holdings in shares of Raymond James Financial by 1,502.0% in the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after acquiring an additional 1,765,588 shares in the last quarter. Nuveen LLC bought a new stake in shares of Raymond James Financial in the first quarter valued at about $111,368,000. GAMMA Investing LLC raised its holdings in shares of Raymond James Financial by 25,259.8% in the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock valued at $93,740,000 after acquiring an additional 672,164 shares in the last quarter. Finally, Select Equity Group L.P. bought a new stake in shares of Raymond James Financial in the fourth quarter valued at about $81,611,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

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.