Morgan Stanley Lowers Raymond James Financial (NYSE:RJF) Price Target to $171.00

Raymond James Financial (NYSE:RJF) had its price target cut by analysts at Morgan Stanley from $187.00 to $171.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 16.95% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. UBS Group reduced their target price on Raymond James Financial from $176.00 to $158.00 and set a “neutral” rating on the stock in a research report on Wednesday. Jefferies Financial Group dropped 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 research report on Monday, April 6th. Barclays dropped 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 research report on Wednesday. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $175.58.

Raymond James Financial Stock Performance

NYSE RJF opened at $146.21 on Friday. The business’s 50-day moving average price is $152.28 and its 200 day moving average price is $159.75. Raymond James Financial has a twelve month low of $129.47 and a twelve month high of $177.66. The company has a market capitalization of $28.82 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last released its earnings results 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 return on equity of 17.65% and a net margin of 13.07%.The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts predict that Raymond James Financial will post 11.17 earnings per share for the current year.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.

Institutional Trading of Raymond James Financial

Several large investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in Raymond James Financial by 30.8% during the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after buying an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock valued at $5,402,000 after purchasing an additional 6,953 shares during the last quarter. Plato Investment Management Ltd increased its stake in Raymond James Financial by 2,000.9% during the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 4,342 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Raymond James Financial by 24.6% during the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after purchasing an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Raymond James Financial during the third quarter valued at $1,487,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.