Raymond James Financial, Inc. (NYSE:RJF)‘s stock had its “hold” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a report issued on Tuesday. They presently have a $85.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 0.92% from the company’s current price.

A number of other analysts have also recently issued reports on the company. BidaskClub cut Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Instinet reissued a “buy” rating and set a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura boosted their target price on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Buckingham Research restated a “buy” rating and issued a $94.00 price target (up previously from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Finally, Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Raymond James Financial has a consensus rating of “Buy” and a consensus target price of $89.33.

Shares of Raymond James Financial (NYSE RJF) traded up 1.47% during mid-day trading on Tuesday, reaching $85.79. 511,617 shares of the company’s stock were exchanged. Raymond James Financial has a 52-week low of $56.61 and a 52-week high of $86.18. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 20.40 and a beta of 1.67. The stock’s 50-day moving average is $79.68 and its 200-day moving average is $78.02.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, equities analysts expect that Raymond James Financial will post $5.07 EPS for the current year.

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In other news, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the transaction, the chief executive officer now owns 128,980 shares in the company, valued at $10,727,266.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the transaction, the insider now owns 37,513 shares in the company, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BB&T Corp increased its position in Raymond James Financial by 13.5% during the 4th quarter. BB&T Corp now owns 31,015 shares of the financial services provider’s stock worth $1,798,000 after buying an additional 3,693 shares during the period. Palisade Capital Management LLC NJ boosted its holdings in Raymond James Financial by 1.6% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 763,587 shares of the financial services provider’s stock valued at $37,645,000 after purchasing an additional 12,290 shares during the period. Bank of America Corp DE boosted its holdings in Raymond James Financial by 13.2% in the 1st quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock valued at $68,554,000 after purchasing an additional 105,145 shares during the period. Bank of Nova Scotia bought a new stake in Raymond James Financial in the 1st quarter valued at about $2,243,000. Finally, Hartford Investment Management Co. bought a new stake in Raymond James Financial in the 1st quarter valued at about $2,216,000. 70.02% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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