Citigroup Has Lowered Expectations for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price objective decreased by research analysts at Citigroup from $180.00 to $150.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 15.23% from the company’s previous close.

Several other research analysts have also recently commented on RJF. 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 report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $164.64.

Raymond James Price Performance

Shares of NYSE RJF opened at $130.18 on Wednesday. The firm has a market cap of $26.68 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The business’s 50 day moving average is $152.41 and its 200-day moving average is $150.76. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 1-year low of $104.24 and a 1-year 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%. Equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank increased its stake in shares of Raymond James by 45.5% in the first quarter. First Hawaiian Bank now owns 37,631 shares of the financial services provider’s stock valued at $5,227,000 after buying an additional 11,771 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Raymond James by 32.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 788 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 195 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Raymond James by 4.8% in 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 buying an additional 12,616 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Raymond James by 11.1% in the fourth 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 during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Raymond James in the fourth quarter worth approximately $17,379,000. 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.