Raymond James (NYSE:RJF) Stock Rating Downgraded by StockNews.com
Raymond James (NYSE: RJF) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report on Friday.
A number of other stock analysts have also recently commented on RJF. Jefferies Financial Group launched coverage on Raymond James in a report on Thursday, October 21. They issued a “buy” rating and a price target of $111.00 on the stock. Seaport Res Ptn upgraded shares of Raymond James from a “neutral” rating to a “buy” rating in a Friday, January 28 research note. Morgan Stanley raised its price target on shares of Raymond James from $127.00 to $130.00 and gave the stock an “overweight” rating in a Friday, January 28 report. Finally, JMP Securities downgraded shares of Raymond James from an “outperforming” rating to a “market performing” rating in a Monday, Jan. 10 research report. Four investment analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus buy rating and a consensus price target of $117.00.
NYSE:RJF fell $0.46 during Friday’s midday session, hitting $108.52. The stock recorded a trading volume of 1,086,823 shares, compared to an average volume of 1,286,346 shares. The company’s 50-day moving average is $104.65 and its 200-day moving average is $99.18. Raymond James has a fifty-two week low of $75.91 and a fifty-two week high of $117.37. The stock has a market capitalization of $22.53 billion, a P/E ratio of 14.98 and a beta of 1.18. The company has a debt ratio of 0.38, a current ratio of 0.98 and a quick ratio of 0.97.
Raymond James Inc (NYSE:RJF) last released quarterly earnings data on Tuesday, January 25. The financial services provider reported EPS of $2.12 for the quarter, beating analyst consensus estimates of $1.76 by $0.36. Raymond James had a return on equity of 20.48% and a net margin of 14.68%. During the same period of the previous year, the company achieved EPS of $1.49. Equity analysts expect Raymond James to post EPS of 7.15 for the current year.
In other Raymond James news, Executive Vice President Jonathan N. Santelli sold 3,400 shares of the company in a trade dated Wednesday, Dec. 1. The stock was sold at an average price of $100.05, for a total value of $340,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CEO Steven M. Raney sold 5,000 shares of the company in a trade dated Thursday, Dec. 2. The shares were sold at an average price of $96.12, for a total value of $480,600.00. The disclosure of this sale can be found here. Insiders have sold 48,819 shares of the company worth $5,301,063 in the past three months. 10.25% of the shares are held by insiders.
A number of large investors have recently bought and sold shares of the company. Forum Financial Management LP acquired a new position in Raymond James in the fourth quarter valued at approximately $468,000. Goldman Sachs Group Inc. increased its position in shares of Raymond James by 22.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,330,752 shares of the financial services provider worth $133,608,000 after purchasing an additional 240,552 shares during the period. Toroso Investments LLC acquired a new position in shares of Raymond James during the fourth quarter worth approximately $438,000. Carroll Investors Inc acquired a new position in shares of Raymond James during the fourth quarter worth approximately $271,000. Finally, Deutsche Bank AG increased its position in shares of Raymond James by 0.5% during the fourth quarter. Deutsche Bank AG now owns 590,469 shares of the financial services provider worth $59,283,000 after purchasing an additional 3,034 shares during the period. 75.11% of the shares are held by hedge funds and other institutional investors.
About Raymond James
Raymond James Financial, Inc., a financial holding company, through its subsidiaries, is engaged in the underwriting, distribution, trading and brokerage of equity and debt securities, and the sale mutual funds and other investment products in the United States, Canada and Europe. , and internationally. The Company operates through the Private Management Group, Capital Markets, Asset Management, RJ Bank and Other segments.
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