Raymond James (NYSE:RJF) Price Target Lowered to $125.00 at The Goldman Sachs Group

Raymond James (NYSE:RJF) had its price target reduced by research analysts at The Goldman Sachs Group from $127.00 to $125.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 1.87% from the stock’s previous close.

A number of other research analysts have also issued reports on RJF. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Wells Fargo & Company started coverage on shares of Raymond James in a research report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price target for the company. TD Cowen lifted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group reduced their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lowered their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $131.60.

Raymond James Stock Performance

RJF stock traded down $2.39 during trading on Thursday, hitting $122.71. 345,518 shares of the company’s stock traded hands, compared to its average volume of 1,106,637. The stock has a market capitalization of $25.27 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The stock has a fifty day moving average price of $115.92 and a two-hundred day moving average price of $120.42. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. Raymond James’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in Raymond James by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 22,359 shares of the financial services provider’s stock worth $2,493,000 after purchasing an additional 157 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Raymond James during the fourth quarter valued at $176,000. Hsbc Holdings PLC raised its position in Raymond James by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after buying an additional 89,981 shares during the period. TD Asset Management Inc lifted its stake in Raymond James by 1.5% in the 4th quarter. TD Asset Management Inc now owns 325,016 shares of the financial services provider’s stock worth $36,239,000 after acquiring an additional 4,776 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Raymond James by 6.4% in the 4th quarter. Stifel Financial Corp now owns 70,494 shares of the financial services provider’s stock worth $7,861,000 after acquiring an additional 4,251 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.