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

Raymond James (NYSE:RJF) had its price target decreased by Citigroup from $180.00 to $150.00 in a report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Bank of America increased their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note 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. JMP Securities increased their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” 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 issued a strong buy rating to the company. According to MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average target price of $165.73.

Raymond James Stock Performance

Shares of NYSE RJF opened at $142.29 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $153.24 and its 200-day moving average price is $150.90. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a market cap of $29.16 billion, a PE ratio of 13.88, a PEG ratio of 0.90 and a beta of 1.04.

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, beating 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, analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Institutional Investors Weigh In On Raymond James

Institutional investors have recently made changes to their positions in the company. TCTC Holdings LLC lifted its stake in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares during the period. Quarry LP grew its position in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd increased its stake in Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 122 shares during the period. Institutional investors 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.