TD Cowen Boosts Raymond James (NYSE:RJF) Price Target to $150.00

Raymond James (NYSE:RJF) had its price target hoisted by equities researchers at TD Cowen from $128.00 to $150.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 1.20% from the company’s previous close.

RJF has been the subject of several other research reports. JMP Securities lifted their target price on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. 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. JPMorgan Chase & Co. reduced their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Price Performance

Shares of RJF opened at $148.22 on Wednesday. The firm has a market cap of $30.52 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.76 and a beta of 1.02. The stock has a 50 day moving average of $126.85 and a 200-day moving average of $122.01. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a 52 week low of $94.53 and a 52 week high of $151.59.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. As a group, analysts forecast that Raymond James will post 10.32 EPS for the current year.

Insider Transactions at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’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 owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

A number of hedge funds and other institutional investors have recently modified their holdings of RJF. Concurrent Investment Advisors LLC raised its position in shares of Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 2,328 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Raymond James by 5.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after purchasing an additional 11,427 shares during the period. Bessemer Group Inc. raised its position in shares of Raymond James by 1,138.5% during the first quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after purchasing an additional 17,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Raymond James by 44.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock worth $2,260,000 after purchasing an additional 5,427 shares during the period. Finally, Atria Investments Inc raised its position in shares of Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after purchasing an additional 8,507 shares during the period. Institutional investors own 83.83% 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.