Raymond James (NYSE:RJF)‘s stock had its “neutral” rating reissued by equities research analysts at Credit Suisse Group in a research note issued on Monday, The Fly reports. They presently have a $93.00 target price on the financial services provider’s stock, down from their prior target price of $100.00. Credit Suisse Group’s price target would indicate a potential upside of 20.39% from the stock’s previous close.
Several other analysts have also recently issued reports on the company. Zacks Investment Research reaffirmed a “hold” rating on shares of Raymond James in a research report on Wednesday, November 14th. Citigroup dropped their target price on Raymond James from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 10th. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Wells Fargo & Co dropped their target price on Raymond James from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, January 4th. Finally, Wolfe Research started coverage on Raymond James in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Raymond James has an average rating of “Hold” and an average target price of $95.50.
RJF opened at $77.25 on Monday. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.62 and a beta of 1.57. Raymond James has a 52 week low of $69.11 and a 52 week high of $102.17. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42.
Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.13). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Raymond James had a return on equity of 15.72% and a net margin of 11.46%. On average, equities research analysts forecast that Raymond James will post 7.33 EPS for the current fiscal year.
In other news, insider Tashtego S. Elwyn bought 1,500 shares of Raymond James stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average price of $73.75 per share, for a total transaction of $110,625.00. Following the purchase, the insider now directly owns 12,055 shares of the company’s stock, valued at approximately $889,056.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George Catanese sold 6,611 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $78.71, for a total value of $520,351.81. Following the completion of the transaction, the senior vice president now owns 6,180 shares of the company’s stock, valued at approximately $486,427.80. The disclosure for this sale can be found here. 10.46% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of RJF. Rehmann Capital Advisory Group raised its stake in shares of Raymond James by 57.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock valued at $129,000 after buying an additional 530 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Raymond James by 86.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock valued at $129,000 after buying an additional 651 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Raymond James by 59.9% during the 3rd quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock valued at $172,000 after buying an additional 700 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Raymond James during the 3rd quarter valued at about $204,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Raymond James during the 3rd quarter valued at about $223,000. Institutional investors own 72.73% 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.
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