Citigroup Inc. Lowers Stock Holdings in Raymond James (NYSE:RJF)

Citigroup Inc. lessened its stake in shares of Raymond James (NYSE:RJF) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,689 shares of the financial services provider’s stock after selling 7,538 shares during the quarter. Citigroup Inc. owned about 0.06% of Raymond James worth $15,759,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the last quarter. Quarry LP acquired a new position in shares of Raymond James during the second quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new position in Raymond James during the third quarter worth about $32,000. Gladius Capital Management LP acquired a new stake in Raymond James in the third quarter valued at $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James during the 3rd quarter valued at approximately $37,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Up 0.7 %

RJF opened at $170.13 on Thursday. Raymond James has a 1 year low of $102.42 and a 1 year high of $170.93. The firm has a 50 day moving average price of $141.81 and a 200 day moving average price of $126.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market cap of $35.04 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 EPS. Sell-side analysts expect that Raymond James will post 10.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JMP Securities increased their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America lifted their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $140.91.

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.