Raymond James (NYSE:RJF) Stock Price Expected to Rise, Citigroup Analyst Says

Raymond James (NYSE:RJF) had its price target hoisted by investment analysts at Citigroup from $145.00 to $170.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective indicates a potential upside of 9.47% from the company’s current price.

RJF has been the topic of a number of other research reports. TD Cowen lifted their price objective on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $166.00 price target (up previously from $151.00) on shares of Raymond James in a research note on Tuesday. Morgan Stanley raised their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Nine research 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, the company has an average rating of “Hold” and an average target price of $156.18.

Raymond James Price Performance

Shares of NYSE RJF traded down $4.09 during midday trading on Friday, hitting $155.29. The stock had a trading volume of 430,915 shares, compared to its average volume of 876,596. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The company has a market capitalization of $31.69 billion, a PE ratio of 15.99, a P/E/G 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.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion for 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%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $2.13 earnings per share. On average, sell-side analysts expect that Raymond James will post 10.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last quarter. 9.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its position in shares of Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after buying an additional 64 shares during the last quarter. Metis Global Partners LLC boosted its stake in Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 82 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Raymond James by 5.1% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 86 shares during the last quarter. Portside Wealth Group LLC increased its position in shares of Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Raymond James by 0.4% in the 3rd quarter. MML Investors Services LLC now owns 22,467 shares of the financial services provider’s stock valued at $2,751,000 after purchasing an additional 98 shares during the last quarter. 83.83% of the stock is 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.