TD Cowen Lowers Raymond James (NYSE:RJF) Price Target to $126.00

Raymond James (NYSE:RJF) had its target price dropped by TD Cowen from $131.00 to $126.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 3.40% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Morgan Stanley lifted their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. UBS Group decreased their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 target price (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Citigroup lifted their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.22.

Raymond James Trading Down 0.1 %

Shares of NYSE RJF opened at $121.86 on Thursday. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $123.10 and a 200-day simple moving average of $112.50. The stock has a market capitalization of $25.47 billion, a PE ratio of 14.74, a PEG ratio of 0.89 and a beta of 1.05.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. On average, equities analysts forecast that Raymond James will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James

Institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new position in Raymond James in the 1st quarter valued at about $33,000. Turtle Creek Wealth Advisors LLC acquired a new position in Raymond James in the 4th quarter valued at about $30,000. OLD Point Trust & Financial Services N A acquired a new position in Raymond James in the 4th quarter valued at about $33,000. Addison Advisors LLC increased its position in Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares during the period. Finally, CVA Family Office LLC acquired a new position in Raymond James in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.