Keefe, Bruyette & Woods Increases Raymond James (NYSE:RJF) Price Target to $170.00

Raymond James (NYSE:RJF) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $143.00 to $170.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 9.64% from the company’s current price.

A number of other research analysts also recently issued reports on RJF. Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wells Fargo & Company reiterated an “equal weight” rating and set a $169.00 price objective (up previously from $152.00) on shares of Raymond James in a report on Thursday, December 12th. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, JMP Securities raised their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $146.00.

Raymond James Stock Performance

RJF stock opened at $155.05 on Friday. The firm has a market cap of $31.64 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $155.28 and a 200-day moving average price of $131.17. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.13 earnings per share. As a group, equities research analysts expect that Raymond James will post 10.85 earnings per share for the current year.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Several institutional investors have recently added to or reduced their stakes in RJF. Coldstream Capital Management Inc. boosted its stake in Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 64 shares during the last quarter. Metis Global Partners LLC lifted its stake in Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 82 shares during the last quarter. Wedmont Private Capital grew its holdings in Raymond James by 5.1% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares during the period. Portside Wealth Group LLC increased its position in Raymond James by 3.9% in the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after buying an additional 93 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Raymond James by 0.4% in the third quarter. MML Investors Services LLC now owns 22,467 shares of the financial services provider’s stock valued at $2,751,000 after buying an additional 98 shares during the period. Institutional investors own 83.83% of the company’s stock.

About Raymond James

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.