Wells Fargo & Company Increases Raymond James (NYSE:RJF) Price Target to $140.00

Raymond James (NYSE:RJF) had its price objective upped by equities research analysts at Wells Fargo & Company from $138.00 to $140.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.14% from the company’s current price.

Several other analysts also recently weighed in on the company. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen increased their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. JMP Securities raised shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target on the stock in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $133.36.

Raymond James Stock Up 2.7 %

NYSE RJF traded up $3.38 during trading hours on Wednesday, hitting $128.28. The company had a trading volume of 261,680 shares, compared to its average volume of 1,100,831. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm’s 50 day moving average is $117.86 and its 200 day moving average is $120.57.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS. Sell-side analysts anticipate that Raymond James will post 9.58 earnings per share for the current fiscal year.

Insider Activity at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in Raymond James by 36.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 2,328 shares during the period. Norden Group LLC boosted its stake in Raymond James by 3,257.7% in the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock worth $10,908,000 after purchasing an additional 82,419 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Raymond James by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock valued at $28,937,000 after acquiring an additional 11,427 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Raymond James by 1,138.5% during the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after acquiring an additional 17,499 shares in the last quarter. Finally, Chilton Investment Co. Inc. purchased a new position in shares of Raymond James during the 4th quarter valued at $856,000. Institutional investors and hedge funds 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.