Truist Financial Has Lowered Expectations for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its target price decreased by investment analysts at Truist Financial from $188.00 to $166.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 4.59% from the company’s previous close.

A number of other equities analysts also recently issued reports on RJF. Barclays reiterated an “overweight” rating and set a $197.00 price target (up from $196.00) on shares of Raymond James Financial in a research report on Wednesday, October 7th. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $179.00 to $185.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. BMO Capital Markets dropped their price target on shares of Raymond James Financial from $175.00 to $170.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 6th. Finally, Citizens Jmp boosted their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $178.85.

Raymond James Financial Stock Up 0.2%

RJF stock opened at $158.71 on Tuesday. Raymond James Financial has a one year low of $138.82 and a one year high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The firm’s fifty day moving average is $170.67 and its 200 day moving average is $160.96. The firm has a market cap of $30.53 billion, a PE ratio of 13.84, a P/E/G ratio of 0.81 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $2.18 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, research analysts forecast that Raymond James Financial will post 12.12 EPS for the current year.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Steven Raney sold 5,770 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tashtego Elwyn sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider owned 45,114 shares in the company, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,270 shares of company stock valued at $4,090,637. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Raymond James Financial

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. Collective Family Office LLC raised its holdings in Raymond James Financial by 3.0% in the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Raymond James Financial by 10.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 71 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Raymond James Financial by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 72 shares during the last quarter. Root Financial Partners LLC grew its position in shares of Raymond James Financial by 23.2% in the first quarter. Root Financial Partners LLC now owns 404 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 76 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Raymond James Financial by 8.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 113 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

About Raymond James Financial

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment banking, capital markets, asset management, and banking services to individuals, corporations, institutions, and municipalities.

Its wealth management operations serve clients through employee advisors and independent financial advisors, offering investment planning, brokerage, retirement planning, insurance, and related advisory services.