Exclusive: What’s Raymond James Financial, Inc. Upside After Reaching 52-Week High?

Exclusive: What's Raymond James Financial, Inc. Upside After Reaching 52 Week High?

The stock of Raymond James Financial, Inc. (NYSE:RJF) hit a new 52-week high and has $87.93 target or 35.00% above today’s $65.13 share price. The 8 months bullish chart indicates low risk for the $9.28B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $87.93 price target is reached, the company will be worth $3.25B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 763,392 shares traded hands or 30.29% up from the average. Raymond James Financial, Inc. (NYSE:RJF) has risen 37.84% since April 7, 2016 and is uptrending. It has outperformed by 33.05% the S&P500.

Raymond James Financial, Inc. (NYSE:RJF) Ratings Coverage

Out of 8 analysts covering Raymond James Financial Inc. (NYSE:RJF), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. Raymond James Financial Inc. has been the topic of 21 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Citigroup upgraded Raymond James Financial, Inc. (NYSE:RJF) on Monday, October 26 to “Buy” rating. The rating was downgraded by Citigroup on Tuesday, January 12 to “Neutral”. Credit Suisse maintained Raymond James Financial, Inc. (NYSE:RJF) on Monday, February 22 with “Outperform” rating. The rating was maintained by Nomura on Monday, July 11 with “Neutral”. The company was downgraded on Monday, January 25 by Nomura. The rating was downgraded by JMP Securities on Friday, October 28 to “Mkt Perform”.

According to Zacks Investment Research, “RAYMOND JAMES FINANCIAL, INC. is a holding company whose subsidiaries are engaged principally in the securities brokerage business including the underwriting, distribution, trading and brokerage of equity and debt securities, and the sale of tax advantaged investments, mutual funds and other investment products and provides investment management services for retail and institutional clients.”

Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.24, from 0.91 in 2016Q1. The ratio increased, as 23 funds sold all Raymond James Financial, Inc. shares owned while 108 reduced positions. 36 funds bought stakes while 114 increased positions. They now own 97.73 million shares or 1.42% less from 99.14 million shares in 2016Q1.
Twin Tree Management Limited Partnership has invested 0.06% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF). Profund Lc owns 20,544 shares or 0.05% of their US portfolio. Wells Fargo And Mn has 0.06% invested in the company for 2.88 million shares. Principal Fincl Group Inc has 477,169 shares for 0.03% of their US portfolio. Grp Inc holds 0% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 244,056 shares. Panagora Asset Management Incorporated has 0% invested in the company for 14,125 shares. Calvert Invest reported 9,728 shares or 0.02% of all its holdings. The Kentucky-based Hl Svcs Limited Liability Company has invested 0.01% in Raymond James Financial, Inc. (NYSE:RJF). Sentinel Asset Management Incorporated last reported 37,910 shares in the company. Oakbrook Invs Ltd Company owns 12,100 shares or 0.03% of their US portfolio. Advisory Ltd Com accumulated 0% or 51 shares. Dimensional Fund Advsr Limited Partnership has 650,050 shares for 0.02% of their US portfolio. Segall Bryant Hamill Limited Company has 0.05% invested in the company for 38,876 shares. Guinness Asset reported 4,080 shares or 0.06% of all its holdings. Franklin Res reported 15,900 shares or 0% of all its holdings.

Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 6 insider sales for $3.20 million net activity. $577,013 worth of Raymond James Financial, Inc. (NYSE:RJF) was sold by ZANK DENNIS W on Monday, August 29. On Thursday, September 1 JULIEN JEFFREY P sold $1.07 million worth of the stock or 18,600 shares. Dowdle Jeffrey A sold $265,482 worth of stock or 4,900 shares. Another trade for 4,158 shares valued at $224,095 was made by Catanese George on Monday, July 25. $215,029 worth of shares were sold by Elwyn Tashtego S on Wednesday, August 17.

RJF Company Profile

Raymond James Financial, Inc., incorporated on January 24, 1974, is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc. (RJ&A), Raymond James Financial Services, Inc. (RJFS), Raymond James Financial Services Advisors, Inc. (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc. (Eagle) and Raymond James Bank, N.A. (RJ Bank). The Firm has five divisions: Private Client Group, Capital Markets, Asset Management, RJ Bank and Other. The Private Client Group segment includes the retail branches of the Company’s broker-dealer subsidiaries located throughout the United States, Canada and the United Kingdom. The Capital Markets segment includes institutional sales and trading in the United States, Canada and Europe. The Asset Management segment includes the activities of Eagle, the Eagle Family of Funds, Cougar Global Investments Limited (Cougar), the asset management activities of RJ&A, trust services of Raymond James Trust, N.A. (RJ Trust) and other fee asset management programs. The RJ Bank segment originates and purchases commercial and industrial (C&I) loans, tax-exempt loans, securities based loans (SBL), as well as commercial and residential real estate loans. The Other segment includes principal capital and private equity activities, as well as certain corporate costs of the Company.

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