Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Raymond James Financial (NYSE:RJF) had its price target upped by analysts at JPMorgan Chase & Co. from $143.00 to $151.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 4.61% from the stock’s previous close.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group decreased their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Citigroup lifted their price objective on Raymond James Financial from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday. Bank of America lowered Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price objective on the stock. in a research note on Wednesday, April 30th. Wells Fargo & Company reduced their price objective on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $175.00 target price on shares of Raymond James Financial in a report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $155.91.

Raymond James Financial Price Performance

Raymond James Financial stock traded up $1.03 during midday trading on Tuesday, reaching $158.31. 211,540 shares of the company were exchanged, compared to its average volume of 1,325,855. The company has a market capitalization of $31.94 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.92 and a beta of 1.02. The firm’s 50-day simple moving average is $148.47 and its 200-day simple moving average is $149.69. Raymond James Financial has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Raymond James Financial will post 11.17 EPS for the current year.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider owned 78,227 shares of the company’s stock, valued at approximately $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.

Institutional Trading of Raymond James Financial

Institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the first quarter valued at $25,000. TCTC Holdings LLC raised its holdings in Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the period. Alpine Bank Wealth Management acquired a new stake in Raymond James Financial during the 1st quarter worth about $27,000. Golden State Wealth Management LLC raised its holdings in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after buying an additional 123 shares during the period. Finally, Olde Wealth Management LLC acquired a new stake in Raymond James Financial during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial 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.