Raymond James Financial, Inc. (NYSE:RJF)‘s stock had its “buy” rating reiterated by stock analysts at Instinet in a research note issued to investors on Thursday, July 13th. They presently have a $90.00 target price on the financial services provider’s stock, up from their previous target price of $89.00. Instinet’s price objective suggests a potential upside of 8.59% from the stock’s previous close.

Several other research firms have also recently commented on RJF. Nomura raised their target price on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Buckingham Research reissued a “buy” rating and issued a $94.00 price objective (up previously from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. BidaskClub upgraded Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Wells Fargo & Company restated a “market perform” rating and issued a $85.00 target price (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a report on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.50.

Raymond James Financial (RJF) opened at 82.88 on Thursday. Raymond James Financial has a 52-week low of $55.42 and a 52-week high of $85.97. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 19.72 and a beta of 1.65. The stock’s 50 day moving average is $81.42 and its 200 day moving average is $77.23.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.57% and a net margin of 9.78%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts predict that Raymond James Financial will post $5.07 earnings per share for the current fiscal year.

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In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the sale, the insider now owns 37,513 shares of the company’s stock, valued at $3,107,201.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan N. Santelli sold 1,880 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $73.30, for a total value of $137,804.00. Following the completion of the sale, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $219,900. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Raymond James Financial by 24.4% in the first quarter. Vanguard Group Inc. now owns 12,571,840 shares of the financial services provider’s stock worth $958,728,000 after buying an additional 2,462,838 shares during the period. BlackRock Inc. increased its stake in Raymond James Financial by 3,818.6% in the first quarter. BlackRock Inc. now owns 8,358,285 shares of the financial services provider’s stock valued at $637,402,000 after buying an additional 8,144,989 shares during the last quarter. State Street Corp increased its stake in Raymond James Financial by 44.2% in the first quarter. State Street Corp now owns 5,930,879 shares of the financial services provider’s stock valued at $452,297,000 after buying an additional 1,819,172 shares during the last quarter. Boston Partners boosted its position in Raymond James Financial by 9.9% in the first quarter. Boston Partners now owns 5,437,723 shares of the financial services provider’s stock valued at $414,680,000 after buying an additional 489,610 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Raymond James Financial by 7.4% in the first quarter. Wells Fargo & Company MN now owns 2,556,283 shares of the financial services provider’s stock valued at $194,943,000 after buying an additional 175,601 shares during the period. Hedge funds and other institutional investors own 70.87% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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