Raymond James (NYSE:RJF) had its target price raised by stock analysts at Citigroup from $92.00 to $95.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup‘s price objective would suggest a potential upside of 11.28% from the company’s previous close.
RJF has been the topic of a number of other research reports. Wells Fargo & Co reiterated a “hold” rating on shares of AON in a report on Friday, April 5th. Argus restated a “buy” rating and issued a $215.00 price objective on shares of AvalonBay Communities in a report on Tuesday, April 30th. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Compass Point assumed coverage on LPL Financial in a report on Monday, March 11th. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Zacks Investment Research upgraded IQE from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Raymond James presently has a consensus rating of “Buy” and a consensus price target of $94.88.
Shares of RJF traded up $0.51 during trading hours on Tuesday, reaching $85.37. The company’s stock had a trading volume of 34,646 shares, compared to its average volume of 943,084. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 13.20 and a beta of 1.52. Raymond James has a 1-year low of $69.11 and a 1-year high of $97.62. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $83.88.
Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.14. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. Equities research analysts anticipate that Raymond James will post 7.47 earnings per share for the current fiscal year.
In other Raymond James news, CEO Paul C. Reilly sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $91.35, for a total transaction of $5,481,000.00. Following the completion of the sale, the chief executive officer now owns 80,382 shares of the company’s stock, valued at $7,342,895.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey E. Trocin sold 13,157 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $91.11, for a total value of $1,198,734.27. The disclosure for this sale can be found here. Insiders sold 109,881 shares of company stock worth $10,012,987 in the last 90 days. 10.74% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Raymond James by 215.3% in the first quarter. Parallel Advisors LLC now owns 309 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 211 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of Raymond James by 86.5% in the fourth quarter. CSat Investment Advisory L.P. now owns 345 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 160 shares during the period. Executive Wealth Management LLC bought a new stake in shares of Raymond James in the fourth quarter valued at approximately $33,000. Bremer Bank National Association bought a new stake in shares of Raymond James in the first quarter valued at approximately $38,000. Finally, Captrust Financial Advisors boosted its position in shares of Raymond James by 41.1% in the fourth quarter. Captrust Financial Advisors now owns 748 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 218 shares during the period. 70.05% of the stock is owned by hedge funds and other institutional investors.
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.
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