TD Cowen Issues Positive Forecast for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its price target boosted by stock analysts at TD Cowen from $180.00 to $187.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price would suggest a potential upside of 9.42% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Bank of America increased their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday. JMP Securities upped their price objective on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Finally, BMO Capital Markets boosted their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $181.36.

Raymond James Financial Trading Up 2.2%

NYSE:RJF traded up $3.72 during mid-day trading on Wednesday, hitting $170.91. 494,129 shares of the company’s stock were exchanged, compared to its average volume of 1,126,826. Raymond James Financial has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $33.75 billion, a P/E ratio of 16.62, a PEG ratio of 1.05 and a beta of 0.99. The company has a 50 day simple moving average of $161.75 and a 200-day simple moving average of $163.68.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. Raymond James Financial’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 earnings per share. As a group, research analysts expect that Raymond James Financial will post 11.17 earnings per share for the current year.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

A number of institutional investors and hedge funds have recently made changes to their positions in RJF. Norges Bank bought a new position in shares of Raymond James Financial during the 2nd quarter valued at approximately $354,446,000. JPMorgan Chase & Co. grew its holdings in Raymond James Financial by 41.6% during the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after purchasing an additional 1,651,380 shares during the period. First Trust Advisors LP increased its position in Raymond James Financial by 39.9% in the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after buying an additional 709,315 shares during the last quarter. American Century Companies Inc. increased its position in Raymond James Financial by 179.8% in the second quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock worth $105,581,000 after buying an additional 442,340 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Raymond James Financial in the third quarter valued at $69,861,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.