The Goldman Sachs Group Boosts Raymond James (NYSE:RJF) Price Target to $142.00

Raymond James (NYSE:RJF) had its price objective hoisted by analysts at The Goldman Sachs Group from $125.00 to $142.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 2.86% from the stock’s current price.

A number of other analysts have also issued reports on RJF. Wells Fargo & Company increased their price target on shares of Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen lifted their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, JMP Securities raised Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target for the company in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average target price of $134.91.

Raymond James Stock Performance

Shares of RJF stock traded up $8.82 during trading hours on Thursday, reaching $146.18. The stock had a trading volume of 218,230 shares, compared to its average volume of 1,127,637. The firm has a market capitalization of $30.10 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a 50-day simple moving average of $123.01 and a 200-day simple moving average of $121.08. Raymond James has a twelve month low of $91.67 and a twelve month high of $148.68.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.85 earnings per share. As a group, equities analysts forecast that Raymond James will post 9.55 earnings per share for the current year.

Insider Activity at Raymond James

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC purchased a new position in Raymond James in the first quarter worth $234,000. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the 1st quarter valued at $33,000. Avity Investment Management Inc. bought a new stake in shares of Raymond James during the 1st quarter valued at $18,548,000. Cornerstone Wealth Group LLC bought a new stake in shares of Raymond James during the 1st quarter valued at $296,000. Finally, Norden Group LLC raised its stake in shares of Raymond James by 3,257.7% during the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after purchasing an additional 82,419 shares during the period. Hedge funds and other institutional investors 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.