A company insider recently sold 4,000 shares of Raymond James Financial Inc. [RJF]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Raymond James Financial Inc. shares valued at $427,004 were sold by Bunn James E on Sep 08. At $106.75 per share, Bunn James E sold 4,000 shares. The insider’s holdings dropped to 21,096 shares worth approximately $2.26 million following the completion of this transaction.


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Also, Bunn James E sold 6,000 shares, netting a total of over 601,287 in proceeds. Following the sale of shares at $100.21 each, the insider now holds 25,096 shares.

Before that, Allaire Bella Loykhter had sold 15,000 shares from its account. In a trade valued at $1,721,700, the Executive Vice President-RJA traded Raymond James Financial Inc. shares for $114.78 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $7.53 million.

As published in a research note from Seaport Research Partners on January 28, 2022, Raymond James Financial Inc. [RJF] has been rated up from a Neutral to a Buy and the price target has been revised to $125. This represents a 14.42% premium over Wednesday’s closing price. Analysts at JMP Securities downgraded the stock from ‘”a Mkt outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early January. As of July 21, 2021, Jefferies has initiated its “Buy” rating for RJF. Earlier on January 15, 2021, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for RJF stock which previously was a “an Underweight”.

Analyzing RJF’s Price Performance

On Wednesday, Raymond James Financial Inc. [NYSE: RJF] plunged -1.31% to $106.98. The stock’s lowest price that day was $106.93, but it reached a high of $110.325 in the same session. During the last five days, there has been a drop of approximately -0.25%. Over the course of the year, Raymond James Financial Inc. shares have jumped approximately 6.55%. Shares of the company reached a 52-week high of $117.37 on 02/10/22 and a 52-week low of $84.86 on 06/13/22. A 50-day SMA is recorded $102.89, while a 200-day SMA reached $101.46. Nevertheless, trading volume fell to 1.0 million shares from 0.79 million shares the previous day.

Support And Resistance Levels for Raymond James Financial Inc. (RJF)

According to the 24-hour chart, there is a support level at 105.83, which, if violated, would cause prices to drop to 104.68. In the upper region, resistance lies at 109.23. The next price resistance is at 111.47. RSI (Relative Strength Index) is 52.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.37, which suggests the price will increase in the coming days. Percent R is at 38.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Raymond James Financial Inc. subject to short interest?

Stocks of Raymond James Financial Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.79 million shares to 2.53 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.74 million shares. A jump of 31.23% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.04.

Which companies own the most shares of Raymond James Financial Inc. (RJF)?

According to The Vanguard Group, Inc. filings, the company currently owns 22,199,553 shares, which is about 10.29% of the total RJF shares outstanding. The investor’s shares have appreciated by 890,713 from its previous 13-F filing of 21308840.0 shares. With the completion of the buy transaction, PRIMECAP Management Co.’s stake is now worth $1,418,348,326. BlackRock Fund Advisors reduced a -2.32% interest valued at $1.01 billion while SSgA Funds Management, Inc. sold a -935,980 stake. A total of 188,109 shares of Raymond James Financial Inc. were sold by Wellington Management Co. LLP during the quarter, and -91,964 were sold by Fidelity Management & Research Co. In its current portfolio, Geode Capital Management LLC holds 3,866,611 shares valued at $403.56 million.

In terms of Raymond James Financial Inc. share price expectations, FactSet research, analysts set an average price target of $122.33 in the next 12 months, up nearly 10.7% from the previous closing price of $108.40. Analysts anticipate Raymond James Financial Inc. stock to reach $132.00 by 2022, with the lowest price target being $113.00. On January 05, 2021, Wolfe Research assigned a price target of “an Outperform” to the stock and upgraded coverage with a $111.

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