Citigroup Trims Raymond James (NYSE:RJF) Target Price to $195.00

Raymond James (NYSE:RJF – Get Rating) had its price target decreased by analysts at Citigroup from $205.00 to $195.00 in a report released on Friday, The Fly reports. Citigroup’s price target suggests a potential upside of 88.90% from the company’s previous close.

A number of other equities analysts also recently issued reports on RJF. StockNews.com started coverage on shares of Raymond James in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Seaport Res Ptn raised shares of Raymond James from a “neutral” rating to a “buy” rating in a research note on Friday, January 28th. Zacks Investment Research downgraded shares of Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 price target for the company. in a research note on Wednesday, March 30th. JMP Securities downgraded shares of Raymond James from an “outperform” rating to a “market perform” rating in a research note on Monday, January 10th. Finally, Morgan Stanley raised their target price on shares of Raymond James from $128.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $129.62.

Shares of Raymond James stock traded up $4.80 during trading on Friday, hitting $103.23. The stock had a trading volume of 896,896 shares, compared to its average volume of 1,332,123. Raymond James has a 12 month low of $81.96 and a 12 month high of $117.37. The business’s 50-day moving average is $105.44 and its 200 day moving average is $103.61. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 14.14 and a beta of 1.09. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.36.

Raymond James (NYSE:RJF – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.09). Raymond James had a net margin of 13.97% and a return on equity of 19.36%. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Raymond James will post 7.44 EPS for the current year.

In other news, EVP Bella Loykhter Allaire sold 15,000 shares of Raymond James stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $114.78, for a total transaction of $1,721,700.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey A. Dowdle sold 18,972 shares of Raymond James stock in a transaction on Monday, February 7th. The stock was sold at an average price of $112.73, for a total transaction of $2,138,713.56. The disclosure for this sale can be found here. Insiders sold 39,972 shares of company stock worth $4,461,674 in the last 90 days. 10.25% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in RJF. BlackRock Inc. raised its position in shares of Raymond James by 43.4% during the 3rd quarter. BlackRock Inc. now owns 18,735,095 shares of the financial services provider’s stock valued at $1,728,875,000 after purchasing an additional 5,667,569 shares during the period. Primecap Management Co. CA increased its holdings in Raymond James by 66.0% in the 3rd quarter. Primecap Management Co. CA now owns 9,984,742 shares of the financial services provider’s stock valued at $921,392,000 after acquiring an additional 3,968,327 shares during the last quarter. Norges Bank bought a new stake in Raymond James in the 4th quarter valued at $176,209,000. Geode Capital Management LLC increased its holdings in Raymond James by 65.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,680,673 shares of the financial services provider’s stock valued at $339,005,000 after acquiring an additional 1,450,851 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Raymond James by 24,537.5% in the 4th quarter. Marshall Wace LLP now owns 1,193,195 shares of the financial services provider’s stock valued at $119,798,000 after acquiring an additional 1,188,352 shares during the last quarter. Hedge funds and other institutional investors own 76.98% of the company’s stock.

Raymond James Company Profile (Get Rating)

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.

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