Raymond James Financial (NYSE:RJF) Insider Sells 7,500 Shares

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 7,500 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the transaction, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Raymond James Financial Price Performance

Shares of RJF traded down $1.03 during mid-day trading on Monday, hitting $178.33. The company’s stock had a trading volume of 1,266,497 shares, compared to its average volume of 1,366,208. The firm has a 50-day simple moving average of $170.25 and a 200 day simple moving average of $157.99. The firm has a market capitalization of $34.30 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.10 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results 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. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the prior year, the company posted $2.18 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. BMO Capital Markets restated a “market perform” rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citizens Jmp upped their price target on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd. Barclays lifted their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $181.00.

Institutional Trading of Raymond James Financial

A number of hedge funds have recently bought and sold shares of RJF. California State Teachers Retirement System boosted its holdings in shares of Raymond James Financial by 14,565.3% during the second quarter. California State Teachers Retirement System now owns 39,471,093 shares of the financial services provider’s stock worth $6,000,790,000 after purchasing an additional 39,201,946 shares during the last quarter. BlackRock Inc. purchased a new position in Raymond James Financial during the second quarter worth about $2,180,699,000. Primecap Management Co. CA acquired a new stake in Raymond James Financial in the 2nd quarter worth about $1,405,145,000. First Trust Advisors LP grew its holdings in Raymond James Financial by 18.3% in 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 buying an additional 474,477 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Raymond James Financial by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after acquiring an additional 21,856 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Company Profile

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.