Raymond James (RJF) Receives a Higher Rating From Citigroup. What’s The Reasoning Behind This Move?

July 13, 2018 - By Darrel Chase

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

Investors sentiment decreased to 0.98 in Q1 2018. Its down 0.23, from 1.21 in 2017Q4. It is negative, as 34 investors sold Raymond James Financial, Inc. shares while 156 reduced holdings. 54 funds opened positions while 132 raised stakes. 99.89 million shares or 1.98% more from 97.95 million shares in 2017Q4 were reported.

Thompson Davis & owns 0.03% invested in Raymond James Financial, Inc. (NYSE:RJF) for 125 shares. 5,422 were reported by Montag And Caldwell Limited Liability Corp. Financial Architects Incorporated has 935 shares for 0.02% of their portfolio. Rafferty Asset Mngmt Limited Liability Co reported 33,160 shares. 2,700 were reported by Highvista Strategies Lc. Sg Americas Ltd holds 18,059 shares or 0.01% of its portfolio. Cadence Management Limited holds 4,516 shares or 0.03% of its portfolio. Citadel Advsr Ltd Liability Company owns 25,023 shares. Hsbc Public Ltd invested in 222,205 shares. Utah Retirement Sys accumulated 24,147 shares. Coldstream Management holds 0.1% or 10,192 shares in its portfolio. Delaware-based Riverhead Cap Management Ltd has invested 0.01% in Raymond James Financial, Inc. (NYSE:RJF). Aperio Group Inc Ltd has 0.03% invested in Raymond James Financial, Inc. (NYSE:RJF). Parallax Volatility Advisers L P reported 4 shares. World Asset has invested 0.03% in Raymond James Financial, Inc. (NYSE:RJF).

Since January 29, 2018, it had 0 insider purchases, and 6 sales for $4.28 million activity. 3,000 shares were sold by Bunn James E, worth $288,930. Shares for $708,327 were sold by Elwyn Tashtego S on Monday, January 29. $455,000 worth of Raymond James Financial, Inc. (NYSE:RJF) was sold by ACKART JENNIFER C on Thursday, February 15. 2,270 shares were sold by Santelli Jonathan N, worth $220,170. $637,894 worth of stock was sold by Allison Paul D on Wednesday, March 14.

Raymond James (RJF) Stock Upgrade

Citigroup gave Raymond James (RJF) shares a new Buy rating in analysts note sent to clients and investors on Friday, 13 July. The boost from the old Neutral rating is certainly an interesting one.

The stock increased 0.77% or $0.71 during the last trading session, reaching $92.95. About 796,046 shares traded or 0.64% up from the average. Raymond James Financial, Inc. (RJF) has risen 35.08% since July 13, 2017 and is uptrending. It has outperformed by 22.51% the S&P500.

Analysts await Raymond James Financial, Inc. (NYSE:RJF) to report earnings on July, 25 after the close. They expect $1.64 EPS, up 30.16 % or $0.38 from last year’s $1.26 per share. RJF’s profit will be $231.43 million for 14.17 P/E if the $1.64 EPS becomes a reality. After $1.63 actual EPS reported by Raymond James Financial, Inc. for the previous quarter, Wall Street now forecasts 0.61 % EPS growth.

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 $13.12 billion. The firm operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other divisions. It has a 18.64 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.

More recent Raymond James Financial, Inc. (NYSE:RJF) news were published by: Bizjournals.com which released: “Meet the new COO at Tampa Bay’s largest bank” on July 10, 2018. Also Seekingalpha.com published the news titled: “Raymond James Financial (RJF) Investor Presentation – Slideshow” on June 14, 2018. Themiddlemarket.com‘s news article titled: “M&A daily wrap: Serena Williams, LeBron James, Greg Norman, Maria Sharapova, Tim Hortons, Goldman Sachs” with publication date: July 12, 2018 was also an interesting one.

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

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