Raymond James Financial, Inc. (RJF) Insider Sells $711,222.07 in Stock
Raymond James Financial, Inc. (NYSE:RJF) insider Jeffrey A. Dowdle sold 8,021 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $88.67, for a total value of $711,222.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Raymond James Financial, Inc. (NYSE RJF) opened at $87.86 on Thursday. Raymond James Financial, Inc. has a fifty-two week low of $68.97 and a fifty-two week high of $91.29. The company has a market capitalization of $12,928.18, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 0.89 and a beta of 1.71. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60.
Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. equities research analysts expect that Raymond James Financial, Inc. will post 5.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Wednesday, January 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, January 2nd. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.22. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.32%.
Several analysts have weighed in on RJF shares. Buckingham Research boosted their price target on Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $86.00 to $90.00 in a research note on Thursday, September 14th. Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Wednesday, August 30th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group began coverage on Raymond James Financial in a research note on Thursday, November 30th. They issued an “underperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $88.57.
Several large investors have recently bought and sold shares of RJF. BT Investment Management Ltd purchased a new position in Raymond James Financial in the second quarter worth approximately $98,773,000. Janus Henderson Group PLC grew its position in Raymond James Financial by 188.1% in the second quarter. Janus Henderson Group PLC now owns 1,206,006 shares of the financial services provider’s stock worth $96,746,000 after acquiring an additional 787,396 shares during the period. Wells Fargo & Company MN grew its position in Raymond James Financial by 25.1% in the second quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock worth $256,605,000 after acquiring an additional 642,474 shares during the period. Ameriprise Financial Inc. grew its position in Raymond James Financial by 489.1% in the second quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock worth $38,146,000 after acquiring an additional 391,701 shares during the period. Finally, Vanguard Group Inc. grew its position in Raymond James Financial by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock worth $1,034,139,000 after acquiring an additional 319,457 shares during the period. 69.86% of the stock is owned by hedge funds and other institutional investors.
Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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