UBS Group Has Lowered Expectations for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its price target dropped by stock analysts at UBS Group from $176.00 to $158.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price suggests a potential upside of 6.64% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Bank of America raised their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Jefferies Financial Group reduced their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday. Finally, Barclays reduced their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an “overweight” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $176.92.

Raymond James Financial Trading Up 0.2%

RJF opened at $148.17 on Wednesday. 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. The company has a fifty day moving average of $152.67 and a 200-day moving average of $160.06. The stock has a market cap of $29.20 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the company posted $2.93 earnings per share. Raymond James Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial 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 completion of the transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently made changes to their positions in RJF. Empowered Funds LLC increased its position in shares of Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 314 shares in the last quarter. Woodline Partners LP increased its position in shares of Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after acquiring an additional 4,592 shares in the last quarter. Lido Advisors LLC bought a new stake in shares of Raymond James Financial during the second quarter worth about $212,000. EverSource Wealth Advisors LLC increased its position in shares of Raymond James Financial by 137.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 685 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 298 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Company Profile

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.