Raymond James (NYSE:RJF) Price Target Cut to $173.00 by Analysts at The Goldman Sachs Group

Raymond James (NYSE:RJF) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $198.00 to $173.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 29.09% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Citigroup reduced their target price on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Bank of America raised their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $164.64.

Raymond James Stock Performance

RJF stock traded down $7.87 during mid-day trading on Thursday, hitting $134.02. The company had a trading volume of 973,869 shares, compared to its average volume of 1,434,830. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The stock’s fifty day moving average price is $153.24 and its two-hundred day moving average price is $150.90. The firm has a market cap of $27.46 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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%. On average, analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Institutional Trading of Raymond James

Institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB grew its position in Raymond James by 32.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 788 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 195 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Raymond James by 4.8% during the 4th quarter. California State Teachers Retirement System now owns 276,397 shares of the financial services provider’s stock valued at $42,933,000 after purchasing an additional 12,616 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Raymond James by 11.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,628 shares of the financial services provider’s stock valued at $6,621,000 after buying an additional 4,269 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Raymond James in the 4th quarter worth approximately $17,379,000. Finally, Jefferies Financial Group Inc. bought a new stake in Raymond James in the 4th quarter worth approximately $9,366,000. Hedge funds and other institutional investors own 83.83% 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.