Raymond James (NYSE:RJF) was downgraded by equities research analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, The Fly reports.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Raymond James from a “buy” rating to a “hold” rating and set a $96.00 target price on the stock. in a research report on Friday, September 24th. Morgan Stanley upped their target price on Raymond James from $112.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, December 8th. Finally, Jefferies Financial Group started coverage on Raymond James in a research report on Thursday, October 21st. They issued a “buy” rating and a $111.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Raymond James has an average rating of “Buy” and a consensus target price of $111.38.
Shares of NYSE RJF opened at $109.07 on Monday. The business’s 50 day moving average price is $99.84 and its two-hundred day moving average price is $95.02. The company has a market cap of $22.49 billion, a PE ratio of 16.44 and a beta of 1.18. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. Raymond James has a twelve month low of $62.94 and a twelve month high of $109.19.
Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 27th. The financial services provider reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.35. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.54 billion. Raymond James had a return on equity of 19.07% and a net margin of 14.16%. The business’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. As a group, research analysts anticipate that Raymond James will post 6.79 EPS for the current fiscal year.
In other Raymond James news, insider James E. Bunn sold 6,447 shares of the company’s stock in a transaction on Tuesday, December 14th. The stock was sold at an average price of $96.15, for a total transaction of $619,879.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Bunn sold 15,166 shares of the company’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $100.73, for a total value of $1,527,671.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,013 shares of company stock valued at $2,968,320. 10.68% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. CIBC Asset Management Inc lifted its stake in shares of Raymond James by 0.7% in the 2nd quarter. CIBC Asset Management Inc now owns 11,114 shares of the financial services provider’s stock valued at $1,444,000 after acquiring an additional 80 shares during the last quarter. White Pine Capital LLC lifted its stake in shares of Raymond James by 0.7% in the 2nd quarter. White Pine Capital LLC now owns 11,960 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 85 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Raymond James by 31.6% in the 2nd quarter. Penserra Capital Management LLC now owns 404 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 97 shares during the last quarter. Denali Advisors LLC lifted its stake in shares of Raymond James by 25.0% in the 2nd quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 100 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Raymond James by 49.8% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 316 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 52.36% 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.