Raymond James Financial (NYSE:RJF) Price Target Lowered to $160.00 at TD Cowen

Raymond James Financial (NYSE:RJF) had its target price reduced by research analysts at TD Cowen from $161.00 to $160.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target suggests a potential downside of 8.49% from the stock’s previous close.

Several other equities analysts also recently weighed in on RJF. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. JPMorgan Chase & Co. lifted their price target on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Citizens Jmp increased their price objective on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $181.46.

Raymond James Financial Trading Down 1.9%

Shares of RJF opened at $174.84 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $170.68 and its two-hundred day moving average is $158.13. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $182.73. The firm has a market capitalization of $33.63 billion, a P/E ratio of 15.22, a PEG ratio of 1.10 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the company posted $2.18 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, research analysts predict that Raymond James Financial will post 12.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,270 shares of company stock worth $4,090,637. 0.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RJF. Kingsview Wealth Management LLC grew its stake in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after acquiring an additional 17,407 shares during the period. Algebris UK Ltd. purchased a new position in shares of Raymond James Financial during the 4th quarter worth $10,179,000. Fisher Asset Management LLC boosted its holdings in shares of Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares during the last quarter. Swedbank AB boosted its holdings in shares of Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after purchasing an additional 9,838 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Raymond James Financial by 4.3% in the fourth quarter. Natixis Advisors LLC now owns 329,450 shares of the financial services provider’s stock valued at $52,906,000 after purchasing an additional 13,591 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.