Morgan Stanley Increases Raymond James Financial (NYSE:RJF) Price Target to $174.00

Raymond James Financial (NYSE:RJF) had its target price lifted by Morgan Stanley from $172.00 to $174.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 2.74% from the stock’s previous close.

A number of other brokerages have also recently weighed in on RJF. UBS Group restated a “neutral” rating and set a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. BMO Capital Markets boosted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday. Finally, Jefferies Financial Group cut their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial has an average rating of “Hold” and an average price target of $175.50.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $169.37 on Friday. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.28 and a beta of 0.93. Raymond James Financial has a 52-week low of $138.82 and a 52-week high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $154.15 and its 200 day moving average is $156.23.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 earnings per share. On average, sell-side analysts anticipate that Raymond James Financial will post 11.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Reflection Asset Management acquired a new stake in shares of Raymond James Financial during the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial during the 4th quarter worth approximately $32,000. Harbor Investment Advisory LLC raised its position in Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after buying an additional 172 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Raymond James Financial during the 4th quarter valued at approximately $35,000. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 228 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.