Insider Selling: Raymond James (NYSE:RJF) Insider Sells 11,095 Shares of Stock

Raymond James (NYSE:RJF) insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Raymond James Price Performance

RJF traded up $1.16 on Monday, reaching $125.58. The company had a trading volume of 693,930 shares, compared to its average volume of 1,068,485. The business has a 50 day simple moving average of $123.65 and a 200 day simple moving average of $113.48. The company has a market cap of $26.25 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a 52-week low of $84.06 and a 52-week high of $131.19.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business earned $2.03 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s payout ratio is currently 21.77%.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. UBS Group reduced their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Jefferies Financial Group restated a “hold” rating and set a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Finally, TD Cowen dropped their price objective on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $126.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. Drive Wealth Management LLC lifted its position in Raymond James by 3.4% during the first quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after buying an additional 85 shares during the period. Steph & Co. raised its position in shares of Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 91 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares during the last quarter. Finally, Oarsman Capital Inc. raised its position in shares of Raymond James by 0.9% in the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

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.