Raymond James (NYSE:RJF) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,864,400 shares, an increase of 49.8% from the July 31st total of 1,912,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 949,600 shares, the short-interest ratio is presently 3.0 days.

In related news, CFO Jeffrey P. Julien sold 15,756 shares of Raymond James stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $78.59, for a total value of $1,238,264.04. Following the sale, the chief financial officer now directly owns 39,592 shares in the company, valued at approximately $3,111,535.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.74% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Raymond James by 1.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 36,681 shares of the financial services provider’s stock valued at $3,101,000 after purchasing an additional 681 shares in the last quarter. Atria Investments LLC increased its holdings in shares of Raymond James by 13.5% in the second quarter. Atria Investments LLC now owns 6,085 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 726 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Raymond James by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 59,401 shares of the financial services provider’s stock worth $5,022,000 after buying an additional 316 shares in the last quarter. Barings LLC lifted its position in Raymond James by 123.0% during the second quarter. Barings LLC now owns 16,500 shares of the financial services provider’s stock worth $1,395,000 after buying an additional 9,100 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Raymond James during the second quarter worth $626,000. 70.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RJF traded up $1.49 during mid-day trading on Wednesday, reaching $85.78. The company’s stock had a trading volume of 657,695 shares, compared to its average volume of 935,531. The stock has a 50-day moving average of $78.55 and a two-hundred day moving average of $82.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11. The stock has a market capitalization of $11.42 billion, a P/E ratio of 13.26 and a beta of 1.52. Raymond James has a 1-year low of $69.11 and a 1-year high of $96.76.

Raymond James (NYSE:RJF) last posted 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 return on equity of 16.12% and a net margin of 13.06%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts predict that Raymond James will post 7.4 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the company. Citigroup set a $87.00 target price on Raymond James and gave the company a “hold” rating in a research report on Friday, July 26th. ValuEngine lowered Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $93.88.

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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