Citigroup Boosts Raymond James (NYSE:RJF) Price Target to $170.00

Raymond James (NYSE:RJF) had its price objective boosted by stock analysts at Citigroup from $145.00 to $170.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 10.10% from the company’s current price.

Several other analysts have also recently weighed in on RJF. JMP Securities lifted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Bank of America boosted their target price on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $166.00 target price (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.18.

Raymond James Price Performance

Shares of Raymond James stock opened at $154.41 on Friday. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $160.03 and a two-hundred day simple moving average of $135.22. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the company earned $2.13 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Analysts forecast that Raymond James will post 10.85 EPS for the current year.

Insider Activity at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock valued at $10,729,488. 9.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC boosted its stake in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new stake in shares of Raymond James in the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the 3rd quarter valued at $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the 3rd quarter valued at $37,000. 83.83% of the stock is owned by institutional investors.

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.