UBS Group Has Lowered Expectations for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its target price dropped by equities researchers at UBS Group from $176.00 to $158.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target would suggest a potential upside of 6.95% from the company’s previous close.

RJF has been the topic of several other reports. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Barclays reduced their price objective on shares of Raymond James Financial from $196.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Bank of America increased their target price on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group cut their price target 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. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $176.92.

Raymond James Financial Price Performance

RJF traded up $5.35 during trading on Wednesday, reaching $147.73. 1,145,567 shares of the stock were exchanged, compared to its average volume of 1,388,640. The business’s 50 day moving average price is $153.48 and its two-hundred day moving average price is $160.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.07 and a beta of 1.00. Raymond James Financial has a 1 year low of $122.81 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Raymond James Financial will post 11.17 earnings per share for the current year.

Insider Buying and Selling at Raymond James Financial

In other 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 value of $4,206,289.34. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

Institutional investors have recently modified their holdings of the business. Purpose Unlimited Inc. bought a new position in Raymond James Financial during the 4th quarter worth $193,000. Stance Capital LLC boosted its stake in Raymond James Financial by 4.5% during the fourth quarter. Stance Capital LLC now owns 16,670 shares of the financial services provider’s stock valued at $2,677,000 after buying an additional 718 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Raymond James Financial by 18.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,015 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 1,107 shares in the last quarter. World Investment Advisors boosted its stake in Raymond James Financial by 0.5% during the fourth quarter. World Investment Advisors now owns 31,404 shares of the financial services provider’s stock valued at $5,043,000 after buying an additional 156 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Raymond James Financial by 3.8% during the fourth quarter. Corient Private Wealth LLC now owns 33,066 shares of the financial services provider’s stock worth $5,310,000 after buying an additional 1,219 shares in the last quarter. 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.