Morgan Stanley Raises Raymond James (NYSE:RJF) Price Target to $161.00

Raymond James (NYSE:RJF) had its price objective hoisted by research analysts at Morgan Stanley from $149.00 to $161.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 12.54% from the stock’s previous close.

Several other research firms have also recently commented on RJF. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wells Fargo & Company upped their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Bank of America lifted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Trading Down 4.9 %

Shares of Raymond James stock traded down $7.34 during trading hours on Tuesday, hitting $143.06. The company’s stock had a trading volume of 167,369 shares, compared to its average volume of 1,313,265. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The company has a market capitalization of $29.31 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The stock has a 50 day moving average of $160.86 and a 200 day moving average of $147.26.

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, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Raymond James

A number of large investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC increased its holdings in shares of Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Raymond James during the 3rd quarter worth about $34,000. Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Raymond James in the 3rd quarter valued at about $37,000. Finally, Plato Investment Management Ltd lifted its position in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.