TD Cowen Increases Raymond James Financial (NYSE:RJF) Price Target to $187.00

Raymond James Financial (NYSE:RJF) had its price target raised by research analysts at TD Cowen from $180.00 to $187.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price indicates a potential upside of 9.42% from the stock’s previous close.

RJF has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday. JMP Securities boosted their price objective on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Finally, BMO Capital Markets lifted their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $181.36.

Raymond James Financial Stock Performance

Shares of NYSE:RJF traded up $3.72 during trading on Wednesday, hitting $170.91. 494,129 shares of the company were exchanged, compared to its average volume of 1,126,826. Raymond James Financial has a 52-week low of $117.57 and a 52-week high of $177.66. The stock has a 50 day moving average of $161.75 and a 200 day moving average of $163.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.04. The company has a market cap of $33.75 billion, a PE ratio of 16.62, a P/E/G ratio of 1.05 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $2.95 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Insider Activity at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 314 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 4,592 shares during the period. Strs Ohio bought a new position in shares of Raymond James Financial in the first quarter worth approximately $1,841,000. Voya Investment Management LLC grew its holdings in shares of Raymond James Financial by 5.1% in the first quarter. Voya Investment Management LLC now owns 56,481 shares of the financial services provider’s stock worth $7,846,000 after purchasing an additional 2,738 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of Raymond James Financial by 4.8% in the second quarter. Czech National Bank now owns 44,384 shares of the financial services provider’s stock worth $6,807,000 after buying an additional 2,026 shares during the period. 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.