Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, Barclays Analyst Says

Raymond James Financial (NYSE:RJF) had its price target boosted by stock analysts at Barclays from $182.00 to $192.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 13.48% from the company’s current price.

A number of other brokerages have also recently commented on RJF. Jefferies Financial Group lowered 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, April 6th. BMO Capital Markets upped their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Morgan Stanley increased their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. TD Cowen dropped their price objective on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average target price of $174.50.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $169.19 on Thursday. The stock has a fifty day moving average price of $153.89 and a 200 day moving average price of $156.19. The stock has a market cap of $32.97 billion, a PE ratio of 15.90, a P/E/G ratio of 1.29 and a beta of 0.93. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $2.42 earnings per share. Raymond James Financial’s revenue was up 13.4% compared to the same quarter last year. Sell-side analysts forecast that Raymond James Financial will post 11.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its holdings in shares of Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after buying an additional 17,407 shares during the last quarter. Algebris UK Ltd. acquired a new position in Raymond James Financial in the fourth quarter valued at $10,179,000. Fisher Asset Management LLC grew its position in Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after acquiring an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Raymond James Financial by 7.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after acquiring an additional 7,202 shares during the period. Finally, Swedbank AB increased its stake in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after acquiring an additional 9,838 shares during the last quarter. Institutional investors and hedge funds 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.