Raymond James (NYSE:RJF) Receives New Coverage from Analysts at UBS Group

UBS Group began coverage on shares of Raymond James (NYSE:RJFGet Rating) in a research report released on Tuesday morning, MarketBeat reports. The firm issued a neutral rating and a $127.00 price target on the financial services provider’s stock.

A number of other research analysts have also commented on RJF. Morgan Stanley upped their price objective on Raymond James from $113.00 to $121.00 and gave the company an overweight rating in a report on Monday, October 31st. Citigroup assumed coverage on Raymond James in a report on Tuesday, October 11th. They set a neutral rating and a $117.00 target price on the stock. Jefferies Financial Group increased their target price on Raymond James from $108.00 to $130.00 and gave the stock a buy rating in a report on Friday, August 26th. StockNews.com raised Raymond James from a hold rating to a buy rating in a report on Friday, October 28th. Finally, Credit Suisse Group reduced their target price on Raymond James to $118.00 in a report on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Raymond James has a consensus rating of Moderate Buy and an average price target of $122.60.

Raymond James Stock Performance

Shares of NYSE RJF opened at $123.52 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.96. The stock’s fifty day moving average price is $110.32 and its two-hundred day moving average price is $101.80. Raymond James has a one year low of $84.86 and a one year high of $126.00. The firm has a market cap of $26.66 billion, a price-to-earnings ratio of 17.70 and a beta of 1.07.

Raymond James (NYSE:RJFGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. Raymond James had a return on equity of 17.90% and a net margin of 13.35%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $2.06 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts forecast that Raymond James will post 9.44 EPS for the current year.

Insider Buying and Selling

In related news, insider James E. Bunn sold 4,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $106.75, for a total transaction of $427,000.00. Following the completion of the sale, the insider now directly owns 21,096 shares in the company, valued at approximately $2,251,998. The sale was disclosed in a filing with the SEC, which is available through this link. 10.25% of the stock is owned by corporate insiders.

Institutional Trading of Raymond James

Several institutional investors and hedge funds have recently modified their holdings of RJF. Zions Bancorporation N.A. lifted its position in shares of Raymond James by 222.5% during the 2nd quarter. Zions Bancorporation N.A. now owns 287 shares of the financial services provider’s stock worth $26,000 after buying an additional 198 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Raymond James by 365.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 234 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Raymond James by 334.1% in the second quarter. JFS Wealth Advisors LLC now owns 382 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 294 shares during the last quarter. Covestor Ltd raised its position in Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 138 shares during the last quarter. Finally, Clear Street Markets LLC raised its position in Raymond James by 434.2% in the second quarter. Clear Street Markets LLC now owns 406 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 330 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

About Raymond James

(Get Rating)

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.

Read More

Analyst Recommendations for Raymond James (NYSE:RJF)

Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.