Raymond James (NYSE:RJF) PT Raised to $126.00 at Jefferies Financial Group

Raymond James (NYSE:RJF) had its price objective hoisted by Jefferies Financial Group from $123.00 to $126.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price points to a potential downside of 0.58% from the company’s current price.

Several other brokerages have also weighed in on RJF. UBS Group cut their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group decreased their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 target price on the stock. Finally, TD Cowen raised their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $131.90.

Raymond James Stock Performance

Shares of RJF traded up $2.04 during mid-day trading on Friday, reaching $126.74. The company had a trading volume of 267,218 shares, compared to its average volume of 1,106,059. The stock has a market capitalization of $26.27 billion, a P/E ratio of 15.31, a PEG ratio of 0.83 and a beta of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The stock has a 50 day moving average of $117.27 and a two-hundred day moving average of $120.56. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the company earned $1.85 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Raymond James will post 9.58 earnings per share for the current year.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Several hedge funds have recently made changes to their positions in RJF. Czech National Bank boosted its holdings in shares of Raymond James by 6.2% in the third quarter. Czech National Bank now owns 37,757 shares of the financial services provider’s stock valued at $4,624,000 after acquiring an additional 2,208 shares during the period. Trust Co. of Toledo NA OH boosted its stake in shares of Raymond James by 2.5% during the third quarter. Trust Co. of Toledo NA OH now owns 8,165 shares of the financial services provider’s stock worth $1,000,000 after buying an additional 199 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Raymond James by 109.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after buying an additional 58,200 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Raymond James in the 2nd quarter valued at about $2,846,000. Finally, Cetera Investment Advisers lifted its position in Raymond James by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 23,013 shares of the financial services provider’s stock worth $2,845,000 after acquiring an additional 1,357 shares during the period. Hedge funds and other 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.