Insider Selling: Raymond James Financial (NYSE:RJF) Insider Sells 29,551 Shares of Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Raymond James Financial Trading Up 0.5%

NYSE:RJF traded up $0.76 during mid-day trading on Friday, hitting $143.63. The company had a trading volume of 817,706 shares, compared to its average volume of 1,401,290. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The firm has a market cap of $28.31 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.06 and a beta of 1.00. The business’s fifty day moving average is $160.45 and its two-hundred day moving average is $162.68.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the business posted $2.93 EPS. Raymond James Financial’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial’s payout ratio is currently 21.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RJF. Barclays began coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target on the stock. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $182.17.

Hedge Funds Weigh In On Raymond James Financial

Several hedge funds have recently made changes to their positions in RJF. Great Valley Advisor Group Inc. grew its position in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares in the last quarter. Meridian Wealth Advisors LLC grew its holdings in shares of Raymond James Financial by 0.6% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after acquiring an additional 62 shares in the last quarter. Waterloo Capital L.P. increased its position in shares of Raymond James Financial by 2.0% in the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 64 shares during the last quarter. Wedmont Private Capital raised its holdings in Raymond James Financial by 0.6% during the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock worth $1,727,000 after acquiring an additional 64 shares in the last quarter. Finally, Tectonic Advisors LLC grew its stake in Raymond James Financial by 2.0% in the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 65 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.