Raymond James Financial (NYSE:RJF) Insider Sells $998,036.90 in Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Steven Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Raymond James Financial Trading Up 0.5%

NYSE:RJF opened at $175.00 on Friday. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.07 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average price is $158.84 and its 200-day moving average price is $156.75. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $178.28.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 12.04 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.54 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s payout ratio is currently 18.83%.

Institutional Investors Weigh In On Raymond James Financial

A number of large investors have recently made changes to their positions in the company. First Trust Advisors LP increased its position in shares of Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after purchasing an additional 474,477 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after buying an additional 21,856 shares during the last quarter. Bank of America Corp DE grew its position in Raymond James Financial by 9.9% during the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock valued at $354,701,000 after buying an additional 220,227 shares during the period. Dimensional Fund Advisors LP increased its holdings in Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock valued at $347,390,000 after buying an additional 41,413 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Raymond James Financial by 12.2% during the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock valued at $375,543,000 after buying an additional 254,773 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RJF. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Argus upped their target price on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group lowered their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $181.00.

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.