Raymond James Financial (NYSE:RJF) Given New $165.00 Price Target at BMO Capital Markets

Raymond James Financial (NYSE:RJF) had its price objective boosted by analysts at BMO Capital Markets from $152.00 to $165.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 6.66% from the stock’s current price.

Other analysts have also issued research reports about the company. Barclays reaffirmed an “overweight” rating on shares of Raymond James Financial in a report on Thursday. UBS Group reduced their price target on shares of Raymond James Financial from $176.00 to $158.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Morgan Stanley cut their price objective on shares of Raymond James Financial from $187.00 to $171.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $174.17.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $154.69 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market cap of $30.49 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The business has a 50-day simple moving average of $150.06 and a two-hundred day simple moving average of $158.74. Raymond James Financial has a fifty-two week low of $131.85 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts expect that Raymond James Financial will post 11.73 earnings per share for the current year.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Raymond James Financial

Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of Raymond James Financial by 30.8% in the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after purchasing an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock valued at $5,402,000 after purchasing an additional 6,953 shares in the last quarter. Plato Investment Management Ltd lifted its position in Raymond James Financial by 2,000.9% during the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 4,342 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Raymond James Financial by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after buying an additional 11,680 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Raymond James Financial in the 3rd quarter worth about $1,487,000. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.