Barclays Lowers Raymond James Financial (NYSE:RJF) Price Target to $174.00

Raymond James Financial (NYSE:RJF) had its price objective cut by analysts at Barclays from $196.00 to $174.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 17.44% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Bank of America upped their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group decreased 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 note on Monday. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $176.92.

Raymond James Financial Stock Performance

NYSE RJF opened at $148.17 on Wednesday. The stock has a market cap of $29.20 billion, a P/E ratio of 14.50, a PEG ratio of 1.11 and a beta of 1.00. The company’s 50-day simple moving average is $152.67 and its 200 day simple moving average is $160.06. Raymond James Financial has a twelve month low of $128.00 and a twelve month high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. As a group, research analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

Several large investors have recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. grew its stake in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC grew its stake in shares of Raymond James Financial by 0.6% during the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after purchasing an additional 62 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Raymond James Financial by 0.6% during the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock valued at $1,727,000 after purchasing an additional 64 shares during the last quarter. Tectonic Advisors LLC grew its stake in shares of Raymond James Financial by 2.0% during the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 65 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its stake in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

About Raymond James Financial

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.