Raymond James (NYSE:RJF) Rating Increased to Strong-Buy at UBS Group

Raymond James (NYSE:RJF - Get Free Report) was upgraded by equities research analysts at UBS Group from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on RJF. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Wells Fargo & Company reiterated 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. Bank of America raised their target price on Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised 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, Jefferies Financial Group raised their price target on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a report on Friday, October 4th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Raymond James currently has an average rating of "Hold" and an average price target of $152.73.

Raymond James Stock Performance

RJF traded up $0.34 during trading hours on Monday, hitting $159.32. 863,738 shares of the stock were exchanged, compared to its average volume of 969,568. The stock has a market cap of $32.51 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The stock has a 50-day simple moving average of $159.83 and a 200-day simple moving average of $134.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38.

Raymond James (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analysts' expectations 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 was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. Analysts anticipate that Raymond James will post 10.85 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Raymond James

A number of large investors have recently made changes to their positions in RJF. Victory Capital Management Inc. grew its position in Raymond James by 1.2% during the 2nd quarter. Victory Capital Management Inc. now owns 120,434 shares of the financial services provider's stock worth $14,887,000 after purchasing an additional 1,421 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Raymond James during the second quarter valued at $708,000. Caprock Group LLC purchased a new stake in Raymond James in the 2nd quarter worth about $728,000. Choreo LLC acquired a new stake in Raymond James during the 2nd quarter worth about $330,000. Finally, Daiwa Securities Group Inc. grew its stake in Raymond James by 9.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 21,201 shares of the financial services provider's stock valued at $2,621,000 after acquiring an additional 1,809 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.