Raymond James (NYSE:RJF) Upgraded to "Buy" at The Goldman Sachs Group

Raymond James (NYSE:RJF - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $185.00 price target on the financial services provider's stock, up from their previous price target of $161.00. The Goldman Sachs Group's price target indicates a potential upside of 16.07% from the company's current price.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $143.00 to $170.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 24th. Wells Fargo & Company restated an "equal weight" rating and issued a $169.00 price target (up previously from $152.00) on shares of Raymond James in a report on Thursday, December 12th. TD Cowen lifted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Finally, Bank of America boosted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Raymond James currently has a consensus rating of "Hold" and an average price target of $149.91.

Raymond James Trading Up 1.1 %

Shares of NYSE:RJF traded up $1.67 during trading on Monday, reaching $159.39. 1,075,546 shares of the stock were exchanged, compared to its average volume of 841,682. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38. The firm's 50-day moving average price is $159.21 and its 200 day moving average price is $134.29. 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 firm has a market cap of $32.52 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

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

Insider Transactions at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now directly 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 through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares of the company's stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,621 shares of company stock valued at $10,729,488. Insiders own 9.74% of the company's stock.

Hedge Funds Weigh In On Raymond James

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Raymond James by 31.4% in 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. State Street Corp increased its position in Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider's stock worth $976,587,000 after buying an additional 54,265 shares during the period. JPMorgan Chase & Co. lifted its stake in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after buying an additional 488,245 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider's stock valued at $531,013,000 after acquiring an additional 12,869 shares during the period. Finally, AGF Management Ltd. grew its position in shares of Raymond James by 17.2% during the second 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 last quarter. Institutional investors own 83.83% of the company's stock.

About Raymond James

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.