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

Raymond James Financial (NYSE:RJF) had its price objective raised by research analysts at Citizens Jmp from $190.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target suggests a potential upside of 17.45% from the stock’s previous close.

Several other analysts have also commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Morgan Stanley upped their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday. Barclays raised their price target on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Jefferies Financial Group dropped their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $175.33.

Raymond James Financial Stock Up 3.0%

RJF traded up $4.93 on Thursday, hitting $170.28. The company had a trading volume of 58,777 shares, compared to its average volume of 1,424,090. The stock has a market capitalization of $33.18 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.29 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The stock has a fifty day moving average price of $153.89 and a 200-day moving average price of $156.19. Raymond James Financial has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business posted $2.42 EPS. Raymond James Financial’s revenue was up 13.4% on a year-over-year basis. Analysts predict that Raymond James Financial will post 11.76 EPS for the current fiscal year.

Institutional Trading of Raymond James Financial

Hedge funds have recently modified their holdings of the stock. Kingsview Wealth Management LLC grew its position in Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares during the period. Algebris UK Ltd. acquired a new position in shares of Raymond James Financial in the fourth quarter worth about $10,179,000. Fisher Asset Management LLC raised its position in shares of Raymond James Financial by 6.9% in the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after acquiring an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after acquiring an additional 7,202 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after acquiring an additional 9,838 shares in the last quarter. Hedge funds and other institutional investors 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.