Raymond James (NYSE:RJF) Given New $126.00 Price Target at TD Cowen

Raymond James (NYSE:RJF) had its target price decreased by research analysts at TD Cowen from $131.00 to $126.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 4.09% from the stock’s previous close.

A number of other research firms have also recently weighed in on RJF. Citigroup upped their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods reduced their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $116.00 target price (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Finally, Morgan Stanley increased their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $126.22.

Raymond James Stock Performance

Shares of RJF traded down $6.49 during mid-day trading on Thursday, reaching $121.05. The company had a trading volume of 1,651,215 shares, compared to its average volume of 1,059,842. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $25.30 billion, a P/E ratio of 15.17, a PEG ratio of 0.89 and a beta of 1.05. The stock has a 50 day moving average of $122.97 and a two-hundred day moving average of $112.28.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. On average, analysts expect that Raymond James will post 9.45 earnings per share for the current year.

Insider Transactions at Raymond James

In other news, Director Art A. Garcia purchased 879 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now owns 879 shares in the company, valued at $98,711.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Several hedge funds have recently modified their holdings of RJF. Turtle Creek Wealth Advisors LLC acquired a new stake in Raymond James in the fourth quarter valued at $30,000. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the fourth quarter valued at $33,000. Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the first quarter valued at $33,000. Addison Advisors LLC raised its stake in Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after buying an additional 103 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in Raymond James in the fourth quarter valued at $50,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.