Price Action To Observe: What’s Next for Raymond James Financial, Inc. After Making 52-Week High?

Price Action To Observe: What's Next for Raymond James Financial, Inc. After Making 52 Week High?

The stock of Raymond James Financial, Inc. (NYSE:RJF) hit a new 52-week high and has $76.59 target or 4.00% above today’s $73.64 share price. The 6 months bullish chart indicates low risk for the $10.58B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $76.59 price target is reached, the company will be worth $423.20 million 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. The stock increased 2.36% or $1.7 during the last trading session, hitting $73.64. About 898,810 shares traded hands or 5.29% up from the average. Raymond James Financial, Inc. (NYSE:RJF) has risen 36.07% since April 28, 2016 and is uptrending. It has outperformed by 30.14% the S&P500.

Analysts await Raymond James Financial, Inc. (NYSE:RJF) to report earnings on January, 18. They expect $1.01 EPS, up 38.36% or $0.28 from last year’s $0.73 per share. RJF’s profit will be $145.11 million for 18.23 P/E if the $1.01 EPS becomes a reality. After $1.28 actual EPS reported by Raymond James Financial, Inc. for the previous quarter, Wall Street now forecasts -21.09% negative EPS growth.

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. As per Friday, October 28, the company rating was downgraded by JMP Securities. Nomura maintained the shares of RJF in a report on Monday, July 11 with “Neutral” rating. The rating was downgraded by Nomura on Monday, January 25 to “Neutral”. The firm earned “Outperform” rating on Monday, February 22 by Credit Suisse. As per Tuesday, January 12, the company rating was downgraded by Citigroup. Citigroup upgraded Raymond James Financial, Inc. (NYSE:RJF) on Monday, October 26 to “Buy” rating.

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 decreased to 0.82 in Q2 2016. Its down 0.33, from 1.15 in 2016Q1. The ratio dropped, 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.
Ladenburg Thalmann Inc holds 1,519 shares or 0% of its portfolio. Louisiana State Employees Retirement owns 33,500 shares or 0.09% of their US portfolio. Prudential Fincl, a New Jersey-based fund reported 1.54M shares. Babson Capital Mngmt last reported 0.01% of its portfolio in the stock. The France-based Bnp Paribas Invest Prns Sa has invested 0% in Raymond James Financial, Inc. (NYSE:RJF). Comerica Retail Bank has 0.04% invested in the company for 89,660 shares. Panagora Asset Mngmt Inc last reported 14,125 shares in the company. Mizuho & Limited holds 200,682 shares or 0.03% of its portfolio. Nordea Inv holds 0% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 2,481 shares. Metropolitan Life New York reported 118,338 shares or 0.04% of all its holdings. The Maryland-based Calvert Investment Mgmt has invested 0.02% in Raymond James Financial, Inc. (NYSE:RJF). Moreover, Sandy Spring National Bank & Trust has 0% invested in Raymond James Financial, Inc. (NYSE:RJF) for 67 shares. Spc last reported 8,900 shares in the company. Peoples Fincl Ser Corp accumulated 80 shares or 0% of the stock. King Luther Mgmt Corp holds 0.01% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 23,763 shares.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 9 selling transactions for $7.91 million net activity. JULIEN JEFFREY P sold $1.07 million worth of stock. ZANK DENNIS W sold $848,166 worth of stock. Another trade for 4,158 shares valued at $224,095 was sold by Catanese George. On Wednesday, August 17 Elwyn Tashtego S sold $215,029 worth of the stock or 3,791 shares. REILLY PAUL C sold 50,000 shares worth $3.56M. Another trade for 7,500 shares valued at $537,211 was made by ACKART JENNIFER C on Monday, November 28.

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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