Fintel reports that on September 19, 2023, JP Morgan initiated coverage of Raymond James Financial (NYSE:RJF) with a Neutral recommendation.
Analyst Price Forecast Suggests 14.94% Upside
As of August 31, 2023, the average one-year price target for Raymond James Financial is 123.16. The forecasts range from a low of 111.10 to a high of $138.60. The average price target represents an increase of 14.94% from its latest reported closing price of 107.16.
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The projected annual revenue for Raymond James Financial is 12,064MM, an increase of 8.05%. The projected annual non-GAAP EPS is 9.65.
What is the Fund Sentiment?
There are 1334 funds or institutions reporting positions in Raymond James Financial. This is a decrease of 104 owner(s) or 7.23% in the last quarter. Average portfolio weight of all funds dedicated to RJF is 0.26%, an increase of 2.39%. Total shares owned by institutions increased in the last three months by 1.59% to 179,833K shares. 
The put/call ratio of RJF is 0.73, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 12,702K shares representing 6.08% ownership of the company. In it's prior filing, the firm reported owning 12,837K shares, representing a decrease of 1.06%. The firm increased its portfolio allocation in RJF by 5.49% over the last quarter.
Wellington Management Group Llp holds 11,324K shares representing 5.42% ownership of the company. In it's prior filing, the firm reported owning 9,877K shares, representing an increase of 12.78%. The firm increased its portfolio allocation in RJF by 21.72% over the last quarter.
Jpmorgan Chase holds 7,585K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 6,876K shares, representing an increase of 9.34%. The firm increased its portfolio allocation in RJF by 771.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,963K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 5,997K shares, representing a decrease of 0.57%. The firm increased its portfolio allocation in RJF by 2.07% over the last quarter.
VEIPX - Vanguard Equity Income Fund Investor Shares holds 5,322K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 4,802K shares, representing an increase of 9.76%. The firm increased its portfolio allocation in RJF by 22.28% over the last quarter.
Raymond James Financial Background Information
(This description is provided by the company.)
Raymond James Financial, Inc. is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $923 billion. Public since 1983, the firm is headquartered in St. Petersburg, Florida.
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