Jefferies Financial Group Raises Raymond James (NYSE:RJF) Price Target to $126.00

Raymond James (NYSE:RJF) had its target price boosted by equities research analysts at Jefferies Financial Group from $123.00 to $126.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price indicates a potential downside of 0.89% from the company’s previous close.

RJF has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. The Goldman Sachs Group lowered their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. TD Cowen increased their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Wells Fargo & Company began coverage on Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price target for the company. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $131.90.

Raymond James Stock Up 1.9 %

Shares of NYSE RJF opened at $127.13 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The stock’s 50-day simple moving average is $117.48 and its 200-day simple moving average is $120.60. The firm has a market cap of $26.35 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.79 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for 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%. Raymond James’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. As a group, equities analysts anticipate that Raymond James will post 9.58 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated 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 sale, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Several large investors have recently bought and sold shares of the stock. AGF Management Ltd. lifted its stake in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares during the period. Earnest Partners LLC lifted its position in Raymond James by 1.5% in the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after purchasing an additional 37,173 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock valued at $273,919,000 after purchasing an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Raymond James by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after purchasing an additional 113,826 shares during the period. Finally, APG Asset Management N.V. raised its stake in shares of Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock worth $216,153,000 after buying an additional 38,695 shares in the last quarter. 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.