Raymond James Financial’s (RJF) Hold Rating Reiterated at UBS Group

Raymond James Financial (NYSE:RJF)‘s stock had its “hold” rating restated by UBS Group in a research note issued on Thursday, MarketBeat Ratings reports. They presently have a $176.00 price objective on the financial services provider’s stock. UBS Group’s price objective indicates a potential upside of 7.42% from the company’s previous close.

Several other equities research analysts have also commented on RJF. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. TD Cowen lifted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Thursday, October 23rd. Finally, Bank of America increased their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $180.45.

Raymond James Financial Stock Performance

NYSE RJF opened at $163.84 on Thursday. The stock has a market capitalization of $32.22 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.00 and a beta of 0.99. The stock has a 50-day moving average of $160.60 and a 200 day moving average of $161.10. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. Raymond James Financial has a twelve month low of $117.57 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. Sell-side analysts anticipate that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Raymond James Financial

A number of institutional investors have recently added to or reduced their stakes in RJF. Public Sector Pension Investment Board increased its stake in shares of Raymond James Financial by 3.8% in the 1st quarter. Public Sector Pension Investment Board now owns 49,295 shares of the financial services provider’s stock worth $6,848,000 after acquiring an additional 1,788 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Raymond James Financial by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 153,556 shares of the financial services provider’s stock valued at $21,332,000 after purchasing an additional 4,128 shares during the period. Lord Abbett & CO. LLC increased its position in Raymond James Financial by 31.7% during the first quarter. Lord Abbett & CO. LLC now owns 39,440 shares of the financial services provider’s stock worth $5,479,000 after purchasing an additional 9,494 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Raymond James Financial by 117.4% during the first quarter. Kovitz Investment Group Partners LLC now owns 12,299 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 6,641 shares during the period. Finally, Horizon Investments LLC raised its stake in Raymond James Financial by 4.5% during the first quarter. Horizon Investments LLC now owns 2,646 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial 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.