Raymond James (NYSE:RJF) Price Target Raised to $170.00

Raymond James (NYSE:RJF - Get Free Report) had its price target boosted by equities research analysts at Citigroup from $145.00 to $170.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Citigroup's target price indicates a potential upside of 10.10% from the company's previous close.

RJF has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their target price on Raymond James from $143.00 to $170.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $166.00 price target (up previously from $151.00) on shares of Raymond James in a report on Tuesday. JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a report on Thursday, October 24th. The Goldman Sachs Group upgraded Raymond James from a "neutral" rating to a "buy" rating and upped their price target for the company from $161.00 to $185.00 in a research report on Monday. Finally, Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $156.18.

Raymond James Stock Down 3.1 %

Shares of Raymond James stock traded down $4.97 during trading on Friday, hitting $154.41. 1,189,221 shares of the stock traded hands, compared to its average volume of 1,006,170. The stock has a market cap of $31.51 billion, a P/E ratio of 15.90, a PEG ratio of 0.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The company has a fifty day moving average price of $159.83 and a two-hundred day moving average price of $134.90. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 earnings per share. Equities research analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Insider Activity at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now owns 32,688 shares of the company's stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last 90 days. Company insiders own 9.74% of the company's stock.

Institutional Trading of Raymond James

A number of hedge funds have recently bought and sold shares of the business. Wolff Wiese Magana LLC boosted its holdings in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP acquired a new position in shares of Raymond James in the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new stake in Raymond James in the third quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new stake in Raymond James during the third quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the third quarter worth approximately $37,000. 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.