Raymond James (NYSE:RJF) Receives Neutral Rating from JPMorgan Chase & Co.

Raymond James (NYSE:RJF)‘s stock had its “neutral” rating restated by research analysts at JPMorgan Chase & Co. in a report issued on Tuesday,Benzinga reports. They presently have a $166.00 price target on the financial services provider’s stock, up from their prior price target of $151.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.15% from the stock’s previous close.

A number of other research analysts have also commented on the company. Jefferies Financial Group upped their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price target for the stock from $161.00 to $185.00 in a research report on Monday. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America raised their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $152.73.

Raymond James Price Performance

NYSE:RJF opened at $159.39 on Tuesday. The company has a market cap of $32.52 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.91 and a beta of 1.02. The firm’s fifty day moving average price is $159.21 and its two-hundred day moving average price is $134.29. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 EPS. Equities analysts expect that Raymond James will post 10.85 earnings per share for the current year.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently added to or reduced their stakes in RJF. Wolff Wiese Magana LLC grew its stake in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP acquired a new stake in shares of Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the third quarter worth about $32,000. Gladius Capital Management LP acquired a new position in shares of Raymond James in the third quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. bought a new stake in Raymond James in the third quarter valued at approximately $37,000. 83.83% of the stock is owned by institutional investors.

About Raymond James

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.