Credit Suisse Group Trims Raymond James (RJF) Target Price to $93.00

Raymond James (NYSE:RJF) had its price target reduced by Credit Suisse Group from $100.00 to $93.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 20.42% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Goldman Sachs Group started coverage on shares of Raymond James in a report on Tuesday, November 27th. They set a “neutral” rating and a $85.00 price target on the stock. Wells Fargo & Co lowered their target price on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Citigroup lowered shares of Raymond James from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. ValuEngine lowered shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Raymond James currently has a consensus rating of “Hold” and an average target price of $95.50.

Shares of Raymond James stock traded down $0.28 during midday trading on Monday, reaching $77.23. 18,189 shares of the company’s stock traded hands, compared to its average volume of 1,032,896. The company has a market capitalization of $11.07 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.64 and a beta of 1.57. The company has a current ratio of 1.13, a quick ratio of 1.10 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 $102.17.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.13). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Raymond James had a net margin of 11.46% and a return on equity of 15.72%. On average, equities research analysts predict that Raymond James will post 7.15 earnings per share for the current year.

In other Raymond James news, SVP George Catanese sold 6,611 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $78.71, for a total value of $520,351.81. Following the sale, the senior vice president now directly owns 6,180 shares in the company, valued at approximately $486,427.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn purchased 1,500 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was bought at an average price of $73.75 per share, for a total transaction of $110,625.00. Following the completion of the transaction, the insider now directly owns 12,055 shares in the company, valued at $889,056.25. The disclosure for this purchase can be found here. Company insiders own 10.46% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gateway Investment Advisers LLC lifted its holdings in Raymond James by 2.4% during the 4th quarter. Gateway Investment Advisers LLC now owns 7,251 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 168 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Raymond James by 27.5% during the 4th quarter. CENTRAL TRUST Co now owns 2,382 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 514 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Raymond James by 57.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 530 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Raymond James by 0.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 153,879 shares of the financial services provider’s stock valued at $13,749,000 after purchasing an additional 566 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Raymond James by 86.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 72.72% 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.

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