Keefe, Bruyette & Woods Trims Raymond James (NYSE:RJF) Target Price to $131.00

Raymond James (NYSE:RJF) had its target price decreased by analysts at Keefe, Bruyette & Woods from $132.00 to $131.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 7.50% from the stock’s current price.

RJF has been the subject of a number of other reports. Jefferies Financial Group reissued a “hold” rating and set a $117.00 price objective (up from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group dropped their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $116.00 price objective (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $126.22.

Raymond James Trading Down 0.1 %

Shares of Raymond James stock opened at $121.86 on Thursday. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a market cap of $25.47 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05. The company has a 50-day moving average of $123.10 and a two-hundred day moving average of $112.50.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business posted $2.03 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts anticipate that Raymond James will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now directly owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James

Hedge funds have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $30,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Raymond James in the 4th quarter valued at $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the 1st quarter valued at $33,000. Addison Advisors LLC lifted its holdings in shares of Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in shares of Raymond James during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Company Profile

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.