Raymond James (NYSE:RJF) Price Target Raised to $172.00 at JPMorgan Chase & Co.

Raymond James (NYSE:RJF) had its target price boosted by research analysts at JPMorgan Chase & Co. from $166.00 to $172.00 in a research note issued to investors 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 3.92% from the company’s previous close.

RJF has been the topic of several other reports. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday. TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $161.00 to $185.00 in a report on Monday, January 6th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Citigroup boosted their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $161.64.

Raymond James Stock Performance

Shares of RJF stock traded down $6.51 on Thursday, reaching $165.51. The stock had a trading volume of 351,720 shares, compared to its average volume of 1,190,423. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The firm has a market capitalization of $33.82 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.04 and a beta of 1.02. The firm’s 50-day moving average is $162.16 and its two-hundred day moving average is $139.40. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. On average, research analysts expect that Raymond James will post 11.02 EPS for the current fiscal year.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction 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 ninety days, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RJF. Franklin Resources Inc. grew its holdings in Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after acquiring an additional 9,217 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James in the third quarter worth $3,561,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after purchasing an additional 7,028 shares during the last quarter. UMB Bank n.a. increased its holdings in Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock valued at $7,045,000 after purchasing an additional 44,735 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Raymond James by 109.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after purchasing an additional 58,200 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James 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.