ValuEngine Downgrades Raymond James (NYSE:RJF) to Sell

Raymond James (NYSE:RJF) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday, ValuEngine reports.

A number of other research analysts have also commented on the stock. Citigroup dropped their price objective on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, September 19th. Credit Suisse Group dropped their price objective on shares of Raymond James from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $94.25.

RJF traded up $1.44 on Monday, reaching $84.13. The company had a trading volume of 976,512 shares, compared to its average volume of 954,067. Raymond James has a 1 year low of $69.11 and a 1 year high of $92.00. The stock has a market capitalization of $11.45 billion, a PE ratio of 13.00 and a beta of 1.52. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $81.93 and a 200-day moving average price of $83.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Raymond James had a net margin of 13.06% and a return on equity of 16.12%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $1.55 earnings per share. Raymond James’s revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Raymond James will post 7.39 earnings per share for the current fiscal year.

In other news, CAO Jeffrey A. Dowdle sold 8,398 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $84.91, for a total transaction of $713,074.18. Following the transaction, the chief accounting officer now directly owns 34,338 shares in the company, valued at $2,915,639.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan N. Santelli sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $84.80, for a total transaction of $101,760.00. Following the transaction, the executive vice president now owns 1,078 shares in the company, valued at $91,414.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,354 shares of company stock worth $2,053,098. 10.74% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of RJF. Buckingham Capital Management Inc. increased its stake in shares of Raymond James by 42.7% during the first quarter. Buckingham Capital Management Inc. now owns 20,356 shares of the financial services provider’s stock worth $1,637,000 after acquiring an additional 6,092 shares during the period. First Trust Advisors LP increased its stake in shares of Raymond James by 21.2% during the first quarter. First Trust Advisors LP now owns 124,708 shares of the financial services provider’s stock worth $10,028,000 after acquiring an additional 21,803 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Raymond James during the first quarter worth about $626,000. Carroll Financial Associates Inc. increased its stake in shares of Raymond James by 94.0% during the second quarter. Carroll Financial Associates Inc. now owns 8,876 shares of the financial services provider’s stock worth $750,000 after acquiring an additional 4,301 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Raymond James by 1.6% during the second quarter. Crossmark Global Holdings Inc. now owns 29,221 shares of the financial services provider’s stock worth $2,471,000 after acquiring an additional 469 shares during the period. Institutional investors and hedge funds own 70.80% of the company’s stock.

Raymond James Company Profile

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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Analyst Recommendations for Raymond James (NYSE:RJF)

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