Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Raymond James Financial Inc. shares valued at $712,319 were sold by Perry Jodi on Feb 06. At $112.30 per share, Perry Jodi sold 6,343 shares. The insider’s holdings dropped to 7,150 shares worth approximately $0.77 million following the completion of this transaction.
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Also, Raney Steven M sold 5,577 shares, netting a total of over 599,972 in proceeds. Following the sale of shares at $107.58 each, the insider now holds 56,537 shares.
Before that, REILLY PAUL C had sold 24,016 shares from its account. In a trade valued at $2,672,330, the Chair & CEO traded Raymond James Financial Inc. shares for $111.27 each. Upon closing the transaction, the insider’s holdings decreased to 24,016 shares, worth approximately $28.69 million.
As published in a research note from Keefe Bruyette on December 19, 2022, Raymond James Financial Inc. [RJF] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $120 from $130. This represents a 10.62% premium over Thursday’s closing price. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in late November. As of October 19, 2022, Credit Suisse has initiated its “Neutral” rating for RJF. Earlier on October 12, 2022, Citigroup initiated its rating. Their recommendation was “a Neutral” for RJF stock.
Analyzing RJF Stock Performance
On Thursday, Raymond James Financial Inc. [NYSE: RJF] plunged -2.07% to $107.25. The stock’s lowest price that day was $105.60, but it reached a high of $110.18 in the same session. During the last five days, there has been a drop of approximately -5.81%. Over the course of the year, Raymond James Financial Inc. shares have jumped approximately 0.37%. Shares of the company reached a 52-week high of $120.73 on 01/26/23 and a 52-week low of $104.51 on 01/05/23. A 50-day SMA is recorded $110.99, while a 200-day SMA reached $105.12. Nevertheless, trading volume fell to 1.59 million shares from 0.9 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 105.17, which, if violated, would cause prices to drop to 103.10. In the upper region, resistance lies at 109.75. The next price resistance is at 112.26. RSI (Relative Strength Index) is 37.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.01, which suggests the price will decrease in the coming days. Percent R is at 83.50%, indicating bearish 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 steep in short interest on Jan 12, 2023 dropping by -0.46 million shares to 3.92 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 4.38 million shares. A decline of -11.73% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.1 of the overall float, the days-to-cover ratio (short ratio) decline to 3.1.
Which companies own the most shares of Raymond James Financial Inc. (RJF)?
According to The Vanguard Group, Inc. filings, the company currently owns 22,456,928 shares, which is about 10.44% of the total RJF shares outstanding. The investor’s shares have appreciated by 150,031 from its previous 13-F filing of 22306897.0 shares. With the completion of the sale transaction, PRIMECAP Management Co.’s stake is now worth $1,472,763,457. BlackRock Fund Advisors acquire a 4.50% interest valued at $1.15 billion while Wellington Management Co. LLP sold a -261,813 stake. A total of -13,728 shares of Raymond James Financial Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 2,629,033 were bought by Fidelity Management & Research Co. In its current portfolio, JPMorgan Investment Management, I holds 4,777,314 shares valued at $538.74 million.
In terms of Raymond James Financial Inc. share price expectations, FactSet research, analysts set an average price target of $128.50 in the next 12 months, up nearly 18.7% from the previous closing price of $109.52. Analysts anticipate Raymond James Financial Inc. stock to reach $136.00 by 2023, with the lowest price target being $116.00. In spite of this, 13 analysts ranked Raymond James Financial Inc. stock as an Overweight at the end of 2023. On January 28, 2022, Seaport Research Partners assigned a price target of “a Buy” to the stock and upgraded coverage with a $125.