Barclays Issues Pessimistic Forecast for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its target price dropped by equities researchers at Barclays from $196.00 to $174.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 18.67% from the company’s previous close.

A number of other research analysts have also commented on the stock. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Jefferies Financial Group dropped their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Bank of America lifted their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $178.42.

Raymond James Financial Stock Performance

NYSE RJF traded up $4.25 during trading on Wednesday, reaching $146.63. The company’s stock had a trading volume of 341,958 shares, compared to its average volume of 1,383,507. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market cap of $28.90 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.07 and a beta of 1.00. Raymond James Financial has a twelve month low of $122.81 and a twelve month high of $177.66. The business’s fifty day moving average price is $153.48 and its 200-day moving average price is $160.23.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. Raymond James Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 earnings per share. As a group, analysts anticipate that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

A number of institutional investors have recently added to or reduced their stakes in RJF. Norges Bank purchased a new stake in Raymond James Financial during the fourth quarter worth about $324,263,000. First Trust Advisors LP boosted its holdings in Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after buying an additional 474,477 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Raymond James Financial during the third quarter worth about $69,861,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Raymond James Financial during the fourth quarter worth about $64,640,000. Finally, AQR Capital Management LLC boosted its holdings in Raymond James Financial by 40.0% during the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock worth $176,124,000 after buying an additional 313,587 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 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.