JPMorgan Chase & Co. Reaffirms "Neutral" Rating for Raymond James (NYSE:RJF)

Raymond James (NYSE:RJF - Get Free Report)'s stock had its "neutral" rating reiterated by JPMorgan Chase & Co. in a research note issued on Tuesday, MarketBeat reports. They presently have a $166.00 price target on the financial services provider's stock, up from their previous price target of $151.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 4.51% from the company's previous close.

A number of other research firms also recently issued reports on RJF. Morgan Stanley raised their price target on Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. JMP Securities raised their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James from $143.00 to $170.00 and gave the company a "market perform" rating in a report on Friday, December 20th. The Goldman Sachs Group upgraded shares of Raymond James from a "neutral" rating to a "buy" rating and increased their price target for the stock from $161.00 to $185.00 in a research note on Monday. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $169.00 price objective (up from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $152.73.

Raymond James Stock Down 0.7 %

Shares of NYSE:RJF traded down $1.04 during trading on Tuesday, hitting $158.83. 1,459,127 shares of the company were exchanged, compared to its average volume of 996,032. The firm's 50 day moving average price is $159.40 and its 200-day moving average price is $134.56. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $32.41 billion, a P/E ratio of 16.36, a PEG ratio of 0.91 and a beta of 1.02.

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

Insider Activity at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. 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 over the last three months. 9.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider's stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after acquiring an additional 488,245 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider's stock worth $88,464,000 after acquiring an additional 474,443 shares during the period. AGF Management Ltd. raised its holdings in 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 valued at $318,972,000 after acquiring an additional 378,033 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Raymond James during the 3rd quarter worth $34,105,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.