Raymond James (NYSE:RJF) Given New $131.00 Price Target at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its target price decreased by Keefe, Bruyette & Woods from $132.00 to $131.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 10.15% from the stock’s current price.

Several other equities analysts have also issued reports on the company. UBS Group decreased their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $116.00 price objective (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. 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. Finally, JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $124.67.

Raymond James Price Performance

NYSE:RJF traded down $8.61 during mid-day trading on Thursday, hitting $118.93. 668,179 shares of the company’s stock traded hands, compared to its average volume of 1,046,834. The company has a market cap of $24.86 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The firm’s 50 day simple moving average is $122.97 and its 200 day simple moving average is $112.28.

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

Insider Transactions at Raymond James

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

Institutional Investors Weigh In On Raymond James

A number of institutional investors and hedge funds have recently made changes to their positions in RJF. Norges Bank purchased a new position in Raymond James during the 4th quarter valued at about $238,830,000. Dimensional Fund Advisors LP lifted its holdings in shares of Raymond James by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after acquiring an additional 263,687 shares during the last quarter. Wellington Management Group LLP raised its position in Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after purchasing an additional 246,349 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Raymond James by 269.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock valued at $25,923,000 after buying an additional 188,305 shares during the period. Finally, Sei Investments Co. boosted its stake in Raymond James by 27.4% in the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares in the last quarter. Hedge funds and other institutional investors 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.