BMO Capital Markets Issues Pessimistic Forecast for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its price objective decreased by analysts at BMO Capital Markets from $175.00 to $170.00 in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 8.02% from the company’s previous close.

Several other equities analysts have also recently issued reports on RJF. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. TD Cowen lowered their price objective on Raymond James Financial from $161.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, September 1st. Finally, Morgan Stanley raised their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $180.77.

Raymond James Financial Trading Down 1.3%

Shares of Raymond James Financial stock opened at $157.38 on Tuesday. The stock has a market cap of $30.27 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.89 and a beta of 0.94. The firm has a fifty day moving average price of $171.74 and a 200 day moving average price of $160.68. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $182.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 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 net margin of 13.57% and a return on equity of 19.07%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.18 earnings per share. Equities research analysts predict that Raymond James Financial will post 12.13 earnings per share for the current year.

Insider Transactions at Raymond James Financial

In related news, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the sale, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Allaire sold 7,500 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the transaction, the insider owned 46,086 shares of the company’s stock, valued at $8,184,873.60. This represents a 14.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,270 shares of company stock valued at $4,090,637 in the last three months. 0.58% of the stock is currently owned by company insiders.

Institutional Trading of Raymond James Financial

A number of institutional investors and hedge funds have recently modified their holdings of RJF. Moody National Bank Trust Division raised its position in shares of Raymond James Financial by 14.2% during the 3rd quarter. Moody National Bank Trust Division now owns 6,208 shares of the financial services provider’s stock worth $981,000 after purchasing an additional 774 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Raymond James Financial by 12.7% in the 2nd quarter. QRG Capital Management Inc. now owns 39,488 shares of the financial services provider’s stock valued at $6,003,000 after buying an additional 4,435 shares in the last quarter. State Street Corp boosted its holdings in Raymond James Financial by 0.4% in the 2nd quarter. State Street Corp now owns 7,889,824 shares of the financial services provider’s stock worth $1,199,424,000 after buying an additional 35,294 shares during the last quarter. Security National Bank of SO Dak acquired a new stake in Raymond James Financial in the 2nd quarter worth about $79,000. Finally, Sequoia Financial Advisors LLC increased its stake in Raymond James Financial by 19.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,707 shares of the financial services provider’s stock worth $1,628,000 after buying an additional 1,706 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment banking, capital markets, asset management, and banking services to individuals, corporations, institutions, and municipalities.

Its wealth management operations serve clients through employee advisors and independent financial advisors, offering investment planning, brokerage, retirement planning, insurance, and related advisory services.