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

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

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. JMP Securities raised their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America raised 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. Finally, UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $165.73.

Raymond James Price Performance

Shares of NYSE RJF traded up $3.30 during mid-day trading on Wednesday, hitting $141.40. 487,667 shares of the stock traded hands, compared to its average volume of 1,421,076. The company has a market cap of $28.97 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. 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 firm has a 50 day simple moving average of $153.80 and a two-hundred day simple moving average of $150.96.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, equities research analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its holdings in Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares during the period. Raymond James Financial Inc. bought a new position in shares of Raymond James during the 4th quarter worth about $105,701,000. Franklin Resources Inc. grew its stake in shares of Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after buying an additional 9,217 shares during the period. J.W. Cole Advisors Inc. bought a new stake in Raymond James in the 4th quarter valued at about $511,000. Finally, Proficio Capital Partners LLC bought a new stake in Raymond James in the 4th quarter valued at about $21,334,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.