Citigroup Cuts Raymond James (NYSE:RJF) Price Target to $205.00

Raymond James (NYSE:RJFGet Rating) had its price objective decreased by analysts at Citigroup from $210.00 to $205.00 in a research report issued on Thursday, April 14th, The Fly reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 98.59% from the stock’s current price.

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

NYSE:RJF traded up $2.88 during midday trading on Thursday, hitting $103.23. The stock had a trading volume of 896,394 shares, compared to its average volume of 1,332,129. Raymond James has a one year low of $81.96 and a one year high of $117.37. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 14.14 and a beta of 1.09. The stock has a 50-day moving average of $105.44 and a 200 day moving average of $103.61. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.36.

Raymond James (NYSE:RJFGet Rating) last issued its earnings results on Wednesday, April 27th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.09). Raymond James had a return on equity of 19.36% and a net margin of 13.97%. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business earned $1.67 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts anticipate that Raymond James will post 7.44 earnings per share for the current fiscal year.

In related news, EVP Bella Loykhter Allaire sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $114.78, for a total value of $1,721,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James E. Bunn sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $100.21, for a total value of $601,260.00. Following the transaction, the insider now owns 25,096 shares in the company, valued at $2,514,870.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,972 shares of company stock worth $4,461,674. Insiders own 10.25% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new position in Raymond James in the 4th quarter worth approximately $27,000. Evoke Wealth LLC increased its stake in Raymond James by 1,780.0% during the 4th quarter. Evoke Wealth LLC now owns 282 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 267 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Raymond James by 49.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 316 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 105 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Raymond James by 59.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 122 shares during the period. Finally, CWM LLC bought a new stake in Raymond James during the fourth quarter valued at approximately $34,000. 76.98% of the stock is owned by institutional investors.

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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