Raymond James (NYSE:RJF) PT Lowered to $141.00

Raymond James (NYSE:RJF) had its price objective cut by research analysts at Bank of America from $145.00 to $141.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective points to a potential upside of 15.71% from the company’s previous close.

RJF has been the subject of a number of other research reports. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Citigroup upped their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. TD Cowen upped their price target on shares of Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Morgan Stanley upped their price target on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, UBS Group reduced their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $126.22.

Raymond James Stock Down 0.1 %

Shares of NYSE RJF opened at $121.86 on Thursday. The stock has a market cap of $25.47 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.89 and a beta of 1.05. The firm has a 50 day moving average price of $123.10 and a 200 day moving average price of $112.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings data 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). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.03 EPS. Analysts expect that Raymond James will post 9.45 EPS for the current year.

Insiders Place Their Bets

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased 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 of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James in the fourth quarter valued at $30,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Raymond James in the fourth quarter valued at $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the first quarter valued at $33,000. Addison Advisors LLC increased its holdings in shares of 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 purchasing an additional 103 shares during the last quarter. Finally, CVA Family Office LLC acquired a new position in shares of Raymond James in the fourth quarter valued at $50,000. 83.83% of the stock is owned by institutional investors.

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.