Raymond James Financial (NYSE:RJF) Price Target Lowered to $155.00 at TD Cowen

Raymond James Financial (NYSE:RJF) had its price target lowered by equities research analysts at TD Cowen from $159.00 to $155.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 9.03% from the stock’s previous close.

A number of other research analysts have also recently weighed in on RJF. UBS Group reaffirmed a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Morgan Stanley upped their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Barclays reaffirmed an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Jefferies Financial Group decreased their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $172.92.

Raymond James Financial Stock Performance

NYSE:RJF traded down $3.24 on Thursday, hitting $142.16. The stock had a trading volume of 331,609 shares, compared to its average volume of 1,388,884. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business’s 50-day simple moving average is $149.86 and its two-hundred day simple moving average is $157.37. Raymond James Financial has a 52-week low of $138.82 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm posted $2.42 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts predict that Raymond James Financial will post 11.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Raymond James Financial

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Raymond James Financial during the 4th quarter worth about $324,263,000. First Trust Advisors LP raised its stake in shares of Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after buying an additional 474,477 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Raymond James Financial during the third quarter worth approximately $69,861,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $64,640,000. Finally, AQR Capital Management LLC grew its holdings in Raymond James Financial by 40.0% in the 4th quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock valued at $176,124,000 after buying an additional 313,587 shares in the last quarter. 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.