Raymond James (NYSE:RJF) Given New $150.00 Price Target at Citigroup

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

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company boosted their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $164.64.

Raymond James Stock Performance

NYSE:RJF opened at $123.51 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. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm’s fifty day simple moving average is $151.43 and its 200-day simple moving average is $150.78. The stock has a market cap of $25.31 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS 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%. Analysts expect that Raymond James will post 11.17 earnings per share 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.62%. Raymond James’s dividend payout ratio is currently 19.51%.

Institutional Trading of Raymond James

Several large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its holdings in Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 138 shares during the period. Raymond James Financial Inc. acquired a new position in Raymond James in the 4th quarter worth $105,701,000. Franklin Resources Inc. grew its stake in shares of Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after acquiring an additional 9,217 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the fourth quarter worth about $511,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Raymond James in the fourth quarter worth about $21,334,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.