Citigroup Lowers Raymond James (NYSE:RJF) Price Target to $150.00

Raymond James (NYSE:RJF) had its price target dropped by investment analysts at Citigroup from $180.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would indicate a potential upside of 6.08% from the company’s previous close.

RJF has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Morgan Stanley boosted their price target on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Bank of America increased their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus target price of $165.73.

Raymond James Stock Performance

NYSE RJF traded up $3.30 during trading on Wednesday, reaching $141.40. 487,667 shares of the company’s stock were exchanged, compared to its average volume of 1,421,076. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The business has a 50 day moving average price of $153.80 and a 200-day moving average price of $150.96. The stock has a market capitalization of $28.97 billion, a P/E ratio of 13.80, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Sell-side analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Raymond James in the fourth quarter valued at about $105,701,000. Franklin Resources Inc. grew its position in Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after acquiring an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Raymond James during the fourth quarter worth about $511,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Raymond James in the fourth quarter worth about $21,334,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Company Profile

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.