Raymond James (NYSE:RJF) Price Target Cut to $150.00 by Analysts at Citigroup

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

Several other analysts have also recently issued reports on RJF. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company raised 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. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Bank of America boosted 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. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $165.73.

Raymond James Price Performance

Shares of RJF stock opened at $142.29 on Wednesday. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $153.24 and a two-hundred day simple moving average of $150.90. The stock has a market capitalization of $29.16 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.90 and a beta of 1.04.

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

Raymond James Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. raised its stake in shares of Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after buying an additional 64 shares during the last quarter. CX Institutional raised its position in Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 66 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 67 shares during the period. Formidable Asset Management LLC increased its holdings in shares of Raymond James by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock valued at $1,227,000 after purchasing an additional 67 shares in the last quarter. Finally, Stablepoint Partners LLC boosted its holdings in Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after buying an additional 73 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.