Raymond James Financial, Inc. (RJF) Receives $99.29 Average Price Target from Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $99.29.

Several equities research analysts have commented on the stock. Credit Suisse Group reaffirmed a “hold” rating and set a $99.00 price objective on shares of Raymond James Financial in a report on Friday, January 26th. Buckingham Research upped their price objective on shares of Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $102.00 price target on shares of Raymond James Financial in a research report on Thursday, January 25th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $110.00 price target (up from $94.00) on shares of Raymond James Financial in a research report on Thursday, January 4th.

Raymond James Financial (NYSE RJF) traded up $1.39 during midday trading on Wednesday, reaching $91.47. 643,895 shares of the company’s stock traded hands, compared to its average volume of 962,672. The stock has a market capitalization of $13,320.00, a P/E ratio of 18.63, a PEG ratio of 0.77 and a beta of 1.63. Raymond James Financial has a 1-year low of $71.35 and a 1-year high of $99.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.14.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.19. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. Raymond James Financial had a net margin of 9.00% and a return on equity of 14.87%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. equities research analysts expect that Raymond James Financial will post 6.89 EPS for the current fiscal year.

In other news, SVP Jennifer C. Ackart sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $89.23, for a total transaction of $267,690.00. Following the sale, the senior vice president now directly owns 12,409 shares in the company, valued at $1,107,255.07. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP George Catanese sold 506 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $88.29, for a total value of $44,674.74. Following the sale, the senior vice president now owns 5,884 shares in the company, valued at $519,498.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 283,479 shares of company stock worth $24,597,323. Company insiders own 10.46% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RJF. CIBC Asset Management Inc increased its position in shares of Raymond James Financial by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 13,215 shares of the financial services provider’s stock worth $1,180,000 after purchasing an additional 637 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Raymond James Financial by 3.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,165 shares of the financial services provider’s stock worth $1,616,000 after purchasing an additional 643 shares during the last quarter. Eqis Capital Management Inc. increased its position in shares of Raymond James Financial by 4.0% in the fourth quarter. Eqis Capital Management Inc. now owns 16,781 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 646 shares during the last quarter. Norinchukin Bank The increased its position in shares of Raymond James Financial by 12.8% in the third quarter. Norinchukin Bank The now owns 5,711 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 650 shares during the last quarter. Finally, Wright Investors Service Inc. increased its position in shares of Raymond James Financial by 19.1% in the fourth quarter. Wright Investors Service Inc. now owns 4,248 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 68.35% of the company’s stock.

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About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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