Raymond James Financial (NYSE:RJF) Price Target Cut to $171.00 by Analysts at Morgan Stanley

Raymond James Financial (NYSE:RJF) had its price objective lowered by stock analysts at Morgan Stanley from $187.00 to $171.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 15.41% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. UBS Group cut their price target on shares of Raymond James Financial from $176.00 to $158.00 and set a “neutral” rating on the stock in a report on Wednesday. Jefferies Financial Group cut their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Barclays cut their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an “overweight” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus target price of $175.58.

Raymond James Financial Price Performance

RJF opened at $148.17 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market capitalization of $29.20 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.11 and a beta of 1.00. The firm’s fifty day moving average price is $152.67 and its two-hundred day moving average price is $160.06. Raymond James Financial has a 1 year low of $128.00 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 EPS. As a group, analysts anticipate that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Great Valley Advisor Group Inc. increased its position in shares of Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC increased its position in shares of Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after purchasing an additional 62 shares during the last quarter. Wedmont Private Capital increased its position in shares of Raymond James Financial by 0.6% in the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 64 shares during the last quarter. Tectonic Advisors LLC increased its position in shares of Raymond James Financial by 2.0% in the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 65 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. 83.83% of the stock is currently 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.