Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Raymond James Financial (NYSE:RJF) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $178.00 to $180.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.94% from the stock’s current price.

RJF has been the subject of a number of other reports. TD Cowen increased 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. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Thursday. BMO Capital Markets increased their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Stock Performance

NYSE:RJF opened at $162.25 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company has a fifty day moving average of $167.36 and a two-hundred day moving average of $156.36. The stock has a market capitalization of $32.35 billion, a PE ratio of 15.77, a P/E/G ratio of 1.26 and a beta of 1.03. Raymond James Financial has a fifty-two week low of $117.57 and a fifty-two week 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 earnings per share. As a group, research analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Raymond James Financial

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Raymond James Financial by 1.6% during the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after acquiring an additional 347,916 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Raymond James Financial by 3.0% during the second quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider’s stock valued at $1,535,824,000 after acquiring an additional 295,163 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Raymond James Financial by 41.6% during the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after acquiring an additional 1,651,380 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Raymond James Financial by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after acquiring an additional 29,086 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Raymond James Financial by 19.1% during the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after acquiring an additional 466,129 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.