Shares of Raymond James (NYSE:RJF) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $92.83.

A number of analysts recently commented on RJF shares. Credit Suisse Group decreased their target price on Raymond James from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. ValuEngine upgraded Raymond James from a “strong sell” rating to a “sell” rating in a report on Tuesday. Morgan Stanley initiated coverage on Raymond James in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $91.00 price objective for the company. Finally, Citigroup decreased their price objective on Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, September 19th.

In other Raymond James news, Vice Chairman Jeffrey E. Trocin sold 17,360 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $88.09, for a total transaction of $1,529,242.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey A. Dowdle sold 8,398 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $84.91, for a total value of $713,074.18. Following the sale, the chief accounting officer now directly owns 34,338 shares of the company’s stock, valued at $2,915,639.58. The disclosure for this sale can be found here. Insiders sold 54,676 shares of company stock worth $4,773,397 over the last ninety days. Insiders own 10.74% of the company’s stock.

Several large investors have recently made changes to their positions in RJF. Commonwealth Equity Services LLC grew its position in Raymond James by 30.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,153 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 1,677 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Raymond James by 16,498.1% during the second quarter. Bessemer Group Inc. now owns 35,520 shares of the financial services provider’s stock valued at $3,003,000 after acquiring an additional 35,306 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Raymond James by 715.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 28,820 shares of the financial services provider’s stock valued at $2,434,000 after acquiring an additional 25,286 shares during the last quarter. Arizona State Retirement System increased its position in shares of Raymond James by 3.6% during the second quarter. Arizona State Retirement System now owns 38,690 shares of the financial services provider’s stock valued at $3,271,000 after acquiring an additional 1,334 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Raymond James by 99.2% during the second quarter. Strs Ohio now owns 10,320 shares of the financial services provider’s stock worth $872,000 after acquiring an additional 5,139 shares during the period. 70.85% of the stock is currently owned by institutional investors.

Shares of RJF stock opened at $88.26 on Tuesday. The firm has a 50 day moving average of $86.64 and a 200-day moving average of $83.12. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 11.93 and a beta of 1.53. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. Raymond James has a 52 week low of $69.11 and a 52 week high of $92.00.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.01. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.99 billion. Raymond James had a net margin of 12.89% and a return on equity of 16.51%. Raymond James’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. Analysts anticipate that Raymond James will post 8.1 earnings per share for the current year.

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.

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Analyst Recommendations for Raymond James (NYSE:RJF)

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