Wells Fargo & Company Reiterates Equal Weight Rating for Raymond James (NYSE:RJF)

Raymond James (NYSE:RJF)‘s stock had its “equal weight” rating reaffirmed by analysts at Wells Fargo & Company in a research report issued to clients and investors on Thursday, MarketBeat reports. They presently have a $169.00 target price on the financial services provider’s stock, up from their previous target price of $152.00. Wells Fargo & Company‘s target price indicates a potential upside of 5.30% from the stock’s previous close.

Several other analysts have also commented on RJF. Bank of America increased their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen increased their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group upped their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Morgan Stanley increased their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average price target of $142.45.

Raymond James Stock Performance

Shares of RJF stock opened at $160.49 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market cap of $32.75 billion, a PE ratio of 16.53, a P/E/G ratio of 0.94 and a beta of 1.00. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The stock has a fifty day moving average price of $152.45 and a 200 day moving average price of $130.02.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 EPS. Sell-side analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,621 shares of company stock valued at $9,134,788. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Large investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC boosted its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP acquired a new stake in shares of Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James in the third quarter valued at about $32,000. Gladius Capital Management LP purchased a new stake in shares of Raymond James during the 3rd quarter valued at about $34,000. Finally, Peterson Financial Group Inc. purchased a new position in Raymond James in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James

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.