Raymond James (NYSE:RJF) Stock Rating Lowered by StockNews.com
Written by ABC AUDIO on February 20, 2022
Raymond James (NYSE:RJF) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other equities analysts also recently commented on RJF. Jefferies Financial Group initiated coverage on Raymond James in a report on Thursday, October 21st. They issued a “buy” rating and a $111.00 price objective on the stock. Seaport Res Ptn upgraded shares of Raymond James from a “neutral” rating to a “buy” rating in a research note on Friday, January 28th. Morgan Stanley lifted their target price on shares of Raymond James from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, January 28th. Finally, JMP Securities lowered shares of Raymond James from an “outperform” rating to a “market perform” rating in a research report on Monday, January 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $117.00.
NYSE:RJF traded down $0.46 during mid-day trading on Friday, reaching $108.52. The stock had a trading volume of 1,086,823 shares, compared to its average volume of 1,286,346. The business’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 cap of $22.53 billion, a P/E ratio of 14.98 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.98 and a quick ratio of 0.97.
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Raymond James (NYSE:RJF) last released its quarterly earnings data on Tuesday, January 25th. The financial services provider reported $2.12 EPS for the quarter, topping analysts’ 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 in the prior year, the company earned $1.49 EPS. Equities analysts expect that Raymond James will post 7.15 EPS for the current year.
In other Raymond James news, EVP Jonathan N. Santelli sold 3,400 shares of the business’s stock in a transaction dated Wednesday, December 1st. 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, which can be accessed through this hyperlink. Also, CEO Steven M. Raney sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 2nd. The shares were sold at an average price of $96.12, for a total value of $480,600.00. The disclosure for this sale can be found here. Insiders have sold 48,819 shares of company stock worth $5,301,063 over the last three months. 10.25% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Forum Financial Management LP acquired a new position in Raymond James in the fourth quarter valued at about $468,000. Goldman Sachs Group Inc. boosted 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’s stock worth $133,608,000 after buying 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 about $438,000. Carroll Investors Inc acquired a new position in shares of Raymond James during the fourth quarter worth about $271,000. Finally, Deutsche Bank AG boosted 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’s stock worth $59,283,000 after buying an additional 3,034 shares during the period. 75.11% of the stock is owned by hedge funds and other institutional investors.
About Raymond James
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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