Raymond James (NYSE:RJF) Given New $161.00 Price Target at Morgan Stanley

Raymond James (NYSE:RJF) had its price target hoisted by investment analysts at Morgan Stanley from $149.00 to $161.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 12.54% from the company’s previous close.

RJF has been the subject of several other reports. Wells Fargo & Company lifted their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. JMP Securities boosted their price target on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Citigroup raised their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Nine investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.55.

Raymond James Stock Performance

Shares of RJF stock traded down $7.34 on Tuesday, hitting $143.06. The company’s stock had a trading volume of 167,369 shares, compared to its average volume of 1,313,265. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market capitalization of $29.31 billion, a PE ratio of 13.96, a PEG ratio of 0.90 and a beta of 1.03. The stock’s 50 day moving average is $160.86 and its 200-day moving average is $147.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Equities research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. lifted its position in shares of Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 64 shares during the period. CX Institutional increased its stake in Raymond James by 2.9% in the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 66 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Raymond James by 3.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 67 shares during the period. Formidable Asset Management LLC boosted its position in shares of Raymond James by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock worth $1,227,000 after purchasing an additional 67 shares in the last quarter. Finally, Stablepoint Partners LLC grew its stake in shares of Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after buying an additional 73 shares during the period. 83.83% of the stock is currently owned by institutional investors.

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.