Stock Worth Watching: A Reversal for Raymond James Financial, Inc. Is Not Near. The Stock Reaches Record High Today

Stock Worth Watching: A Reversal for Raymond James Financial, Inc. Is Not Near. The Stock Reaches Record High Today

The stock of Raymond James Financial, Inc. (NYSE:RJF) reached all time high today, Nov, 10 and still has $104.57 target or 56.00% above today’s $67.03 share price. This indicates more upside for the $10.11B company. This technical setup was reported by Barchart.com. If the $104.57 PT is reached, the company will be worth $5.66 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 557,571 shares traded hands. Raymond James Financial, Inc. (NYSE:RJF) has risen 46.25% since April 8, 2016 and is uptrending. It has outperformed by 40.60% 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. As per Monday, February 22, the company rating was maintained by Credit Suisse. Nomura maintained it with “Neutral” rating and $59 target price in Monday, July 11 report. The firm earned “Buy” rating on Monday, October 26 by Citigroup. The stock of Raymond James Financial, Inc. (NYSE:RJF) has “Neutral” rating given on Tuesday, January 12 by Citigroup. The stock has “Mkt Perform” rating given by JMP Securities on Friday, October 28. The stock has “Neutral” rating given by Nomura on Monday, January 25.

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 Q2 2016. Its up 0.24, from 0.91 in 2016Q1. The ratio improved, 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.
Teachers Advsrs accumulated 0.05% or 558,613 shares. Toronto Dominion Fincl Bank, a Ontario – Canada-based fund reported 699 shares. Schroder Invest Mgmt Grp has 655,600 shares for 0.06% of their US portfolio. Forward Mgmt Limited Com has 0% invested in the company for 205 shares. Rothschild Asset Management last reported 0.21% of its portfolio in the stock. Commonwealth State Bank Of Aus has invested 0% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF). Fisher Asset Mgmt Ltd Llc, a Washington-based fund reported 1.59M shares. Wright Investors Ser last reported 12,500 shares in the company. Cornerstone Mgmt Limited Liability Company holds 0.06% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 152,313 shares. Stifel Corp last reported 40,834 shares in the company. Diam Limited accumulated 0.03% or 45,474 shares. Independent Consultants owns 2,335 shares or 0.04% of their US portfolio. Shell Asset Management Com has invested 0.03% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF). Brc Invest Mgmt Limited Liability Corporation holds 0.11% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 12,956 shares. Glenmede Tru Communication Na holds 0% or 230 shares in its portfolio.

Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 6 sales for $3.20 million net activity. Dowdle Jeffrey A sold $265,482 worth of stock. Another trade for 4,158 shares valued at $224,095 was sold by Catanese George. ZANK DENNIS W had sold 15,000 shares worth $848,166 on Monday, June 6. Elwyn Tashtego S sold $215,029 worth of stock or 3,791 shares. Another trade for 18,600 shares valued at $1.07 million was sold by JULIEN JEFFREY P.

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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