Raymond James (NYSE:RJF) Price Target Raised to $172.00 at JPMorgan Chase & Co.

Raymond James (NYSE:RJF) had its price target upped by investment analysts at JPMorgan Chase & Co. from $166.00 to $172.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 3.92% from the company’s previous close.

Other analysts have also recently issued research reports about the company. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America raised their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. JMP Securities raised their price target on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $161.64.

Raymond James Price Performance

RJF stock traded down $6.51 during trading on Thursday, hitting $165.51. 351,720 shares of the stock traded hands, compared to its average volume of 1,190,423. The stock has a market cap of $33.82 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.04 and a beta of 1.02. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of $162.16 and a 200 day simple moving average of $139.40.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Equities analysts expect that Raymond James will post 11.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last three months. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Several institutional investors and hedge funds have recently modified their holdings of RJF. Coldstream Capital Management Inc. boosted its position in shares of Raymond James by 1.5% during the third 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 period. CX Institutional raised its holdings in shares of Raymond James by 2.9% in the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 66 shares during the last quarter. Stablepoint Partners LLC lifted its position in shares of Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after purchasing an additional 73 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Raymond James by 1.4% during the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 82 shares during the last quarter. Finally, Wedmont Private Capital grew its position in Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares in the last quarter. 83.83% of the stock is currently 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.