Can Raymond James Financial, Inc. (RJF)’s Tomorrow be Different? The Stock Formed a Bullish Double Top

May 25, 2018 - By Henry Gaston

Raymond James Financial, Inc. (NYSE:RJF) Logo

Investors sentiment increased to 1.21 in Q4 2017. Its up 0.18, from 1.03 in 2017Q3. It increased, as 29 investors sold Raymond James Financial, Inc. shares while 139 reduced holdings. 60 funds opened positions while 143 raised stakes. 97.95 million shares or 0.86% more from 97.11 million shares in 2017Q3 were reported.
Aqr Capital Management Limited Liability Company stated it has 1.14M shares. Lord Abbett Llc reported 1.06M shares. Connecticut-based Paloma Ptnrs Mngmt has invested 0.01% in Raymond James Financial, Inc. (NYSE:RJF). Genesee Valley Trust stated it has 0.18% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF). Hsbc Hldg Public Limited invested in 0.02% or 135,333 shares. Tiverton Asset Management Ltd Limited Liability Company accumulated 0.01% or 1,531 shares. Gradient Limited Liability Company accumulated 0% or 5 shares. Bluemountain Capital Limited accumulated 54,073 shares. Dock Street Asset Mgmt holds 0.22% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 6,500 shares. Twin Capital Mngmt Inc holds 0.36% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 81,830 shares. Global X Mgmt Co Limited Liability Corp invested in 0.01% or 4,941 shares. Segall Bryant Hamill Limited Com holds 20,940 shares or 0.04% of its portfolio. Cortina Asset Management Lc holds 2,416 shares. Brinker Capital holds 0.02% of its portfolio in Raymond James Financial, Inc. (NYSE:RJF) for 6,290 shares. Asset One Ltd has 0.04% invested in Raymond James Financial, Inc. (NYSE:RJF) for 209,514 shares.

Since December 11, 2017, it had 0 insider purchases, and 8 insider sales for $6.66 million activity. REILLY PAUL C sold $1.11 million worth of stock or 12,681 shares. $288,930 worth of Raymond James Financial, Inc. (NYSE:RJF) shares were sold by Bunn James E. 16,184 Raymond James Financial, Inc. (NYSE:RJF) shares with value of $1.44 million were sold by TROCIN JEFFREY E. The insider ACKART JENNIFER C sold 5,000 shares worth $455,000. $708,327 worth of Raymond James Financial, Inc. (NYSE:RJF) was sold by Elwyn Tashtego S on Monday, January 29. 506 shares valued at $44,675 were sold by Catanese George on Friday, December 15.

The chart of Raymond James Financial, Inc. (RJF) shows a double top with $105.97 target or 6.00 % above today’s $99.97 share price. The 7 months chart pattern indicates low risk for the $14.11B company. It was reported on May, 25 by Finviz.com. If the $105.97 price target is reached, the company will be worth $846.42 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.53% or $0.53 during the last trading session, reaching $99.97. About 57,392 shares traded. Raymond James Financial, Inc. (NYSE:RJF) has risen 18.83% since May 25, 2017 and is uptrending. It has outperformed by 7.28% the S&P500.

Analysts await Raymond James Financial, Inc. (NYSE:RJF) to report earnings on July, 25. They expect $1.74 earnings per share, up 38.10 % or $0.48 from last year’s $1.26 per share. RJF’s profit will be $245.54 million for 14.36 P/E if the $1.74 EPS becomes a reality. After $1.63 actual earnings per share reported by Raymond James Financial, Inc. for the previous quarter, Wall Street now forecasts 6.75 % EPS growth.

Raymond James Financial, Inc. (NYSE:RJF) Ratings Coverage

Among 6 analysts covering Raymond James Financial (NYSE:RJF), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. Raymond James Financial had 10 analyst reports since November 30, 2017 according to SRatingsIntel. The stock of Raymond James Financial, Inc. (NYSE:RJF) earned “Sell” rating by Credit Suisse on Thursday, November 30. The firm has “Buy” rating by Keefe Bruyette & Woods given on Thursday, April 5. As per Thursday, December 21, the company rating was maintained by Keefe Bruyette & Woods. The stock has “Hold” rating by Keefe Bruyette & Woods on Thursday, January 25. The firm has “Outperform” rating given on Tuesday, February 27 by Wood. The firm earned “Buy” rating on Friday, January 26 by Buckingham Research. The company was upgraded on Wednesday, May 16 by Goldman Sachs. The stock has “Hold” rating by Credit Suisse on Thursday, April 26. The stock has “Buy” rating by Keefe Bruyette & Woods on Monday, February 26.

More recent Raymond James Financial, Inc. (NYSE:RJF) news were published by: Bizjournals.com which released: “Here’s what you need to know about Tampa Bay’s next big public company” on May 15, 2018. Also Bizjournals.com published the news titled: “Jabil deal earns a top economic development award for Pinellas, city of St. Pete” on May 23, 2018. Seekingalpha.com‘s news article titled: “Raymond James Financial (RJF) Q2 2018 Results – Earnings Call Transcript” with publication date: April 26, 2018 was also an interesting one.

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 has market cap of $14.11 billion. The firm operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other divisions. It has a 24.25 P/E ratio. The Private Client Group segment provides securities brokerage services, including the sale of equities, mutual funds, fixed income products, and insurance products to their individual clients; and borrowing and lending of securities to and from other broker-dealers, financial institutions, and other counterparties.

Raymond James Financial, Inc. (NYSE:RJF) Institutional Positions Chart

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