Raymond James Financial, Inc. (NYSE:RJF) had its target price lifted by Buckingham Research from $92.00 to $96.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Buckingham Research’s price objective would suggest a potential upside of 12.29% from the stock’s current price.

Several other brokerages have also recently issued reports on RJF. Nomura increased their price objective on Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Instinet reiterated a “buy” rating and issued a $90.00 price objective (up from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Wednesday, August 30th. Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $86.00 to $90.00 in a research note on Thursday, September 14th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $89.67.

Shares of Raymond James Financial (NYSE:RJF) traded up 1.08% on Friday, hitting $85.49. The stock had a trading volume of 930,275 shares. The stock has a 50 day moving average of $83.10 and a 200 day moving average of $79.28. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 20.33 and a beta of 1.67. Raymond James Financial has a 12-month low of $58.66 and a 12-month high of $87.22.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.15. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Raymond James Financial had a return on equity of 13.97% and a net margin of 9.75%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Equities analysts predict that Raymond James Financial will post $5.07 earnings per share for the current fiscal year.

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In related news, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction 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 of the company’s stock, valued at $3,107,201.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the transaction, the chief executive officer now directly owns 128,980 shares in the company, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Corporate insiders own 11.18% of the company’s stock.

A number of large investors have recently bought and sold shares of RJF. BT Investment Management Ltd purchased a new position in shares of Raymond James Financial during the second quarter worth about $98,773,000. Janus Henderson Group PLC grew its holdings in shares of Raymond James Financial by 188.1% during the second quarter. Janus Henderson Group PLC now owns 1,206,006 shares of the financial services provider’s stock worth $96,746,000 after purchasing an additional 787,396 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Raymond James Financial by 25.1% during the second quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock worth $256,605,000 after purchasing an additional 642,474 shares during the last quarter. Janus Capital Management LLC grew its holdings in shares of Raymond James Financial by 975.9% during the first quarter. Janus Capital Management LLC now owns 437,681 shares of the financial services provider’s stock worth $33,377,000 after purchasing an additional 397,001 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Raymond James Financial by 489.1% during the second quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock worth $38,146,000 after purchasing an additional 391,701 shares during the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

About Raymond James Financial

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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