Raymond James Financial’s (RJF) Hold Rating Reiterated at Credit Suisse Group
Raymond James Financial (NYSE:RJF)‘s stock had its “hold” rating reiterated by stock analysts at Credit Suisse Group in a research report issued to clients and investors on Wednesday. They presently have a $82.00 price objective on the financial services provider’s stock. Credit Suisse Group’s price target would indicate a potential downside of 8.69% from the company’s previous close.
Several other brokerages have also commented on RJF. Wells Fargo & Co raised Raymond James Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $86.00 to $90.00 in a report on Thursday, September 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a report on Tuesday, October 3rd. Finally, Buckingham Research lifted their price target on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Raymond James Financial currently has an average rating of “Buy” and an average target price of $88.57.
Raymond James Financial (RJF) traded up $0.94 during trading on Wednesday, reaching $89.80. The company had a trading volume of 1,030,061 shares, compared to its average volume of 980,600. The firm has a market capitalization of $12,970.00, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 0.84 and a beta of 1.71. Raymond James Financial has a 12-month low of $69.70 and a 12-month high of $91.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.16.
In other news, insider Tashtego S. Elwyn sold 8,997 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.17, for a total transaction of $766,274.49. Following the completion of the transaction, the insider now directly owns 22,178 shares of the company’s stock, valued at approximately $1,888,900.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jennifer C. Ackart sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $89.23, for a total value of $267,690.00. Following the transaction, the senior vice president now directly owns 12,409 shares of the company’s stock, valued at $1,107,255.07. The disclosure for this sale can be found here. Insiders have sold a total of 318,204 shares of company stock valued at $27,453,239 over the last three months. 11.18% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Visionary Asset Management Inc. acquired a new stake in shares of Raymond James Financial in the 3rd quarter worth approximately $220,000. Public Employees Retirement System of Ohio lifted its stake in shares of Raymond James Financial by 9.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,589 shares of the financial services provider’s stock worth $14,133,000 after purchasing an additional 14,500 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Raymond James Financial by 20.0% during the 3rd quarter. GSA Capital Partners LLP now owns 6,190 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 1,032 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of Raymond James Financial during the 3rd quarter worth $301,000. Finally, Sterling Capital Management LLC purchased a new position in shares of Raymond James Financial during the 3rd quarter worth $219,000. 69.79% 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.
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