Argus Forecasts Strong Price Appreciation for Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial (NYSE:RJF) had its price target hoisted by stock analysts at Argus from $178.00 to $196.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Argus’ price objective points to a potential upside of 11.29% from the company’s current price.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group decreased their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. TD Cowen cut their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Finally, UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $181.00.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $176.12 on Thursday. The stock’s fifty day moving average price is $159.33 and its two-hundred day moving average price is $156.89. The firm has a market cap of $34.32 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. Raymond James Financial has a one year low of $138.82 and a one year high of $178.28.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.18 EPS. As a group, research analysts expect that Raymond James Financial will post 12.07 EPS for the current fiscal year.

Insider Transactions 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 dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the sale, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Raymond James Financial

A number of hedge funds have recently modified their holdings of RJF. Tema ETFs LLC increased its holdings in Raymond James Financial by 9.9% in the 2nd quarter. Tema ETFs LLC now owns 4,818 shares of the financial services provider’s stock worth $732,000 after acquiring an additional 435 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Raymond James Financial by 116.0% during the 2nd quarter. Revolve Wealth Partners LLC now owns 4,488 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 2,410 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Raymond James Financial by 6.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 32,432 shares of the financial services provider’s stock valued at $4,931,000 after buying an additional 1,955 shares during the period. Czech National Bank boosted its holdings in shares of Raymond James Financial by 3.3% in the second quarter. Czech National Bank now owns 49,369 shares of the financial services provider’s stock valued at $7,506,000 after purchasing an additional 1,597 shares during the period. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Raymond James Financial by 1.1% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 31,074 shares of the financial services provider’s stock valued at $4,724,000 after purchasing an additional 340 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

About Raymond James Financial

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.