Raymond James Financial (NYSE:RJF) Insider Sells $4,206,289.34 in Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated 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 directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Raymond James Financial Stock Performance

NYSE:RJF traded up $0.76 during mid-day trading on Friday, hitting $143.63. The stock had a trading volume of 817,706 shares, compared to its average volume of 1,401,290. The company’s 50 day simple moving average is $160.45 and its 200 day simple moving average is $162.68. The stock has a market cap of $28.31 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.06 and a beta of 1.00. 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 twelve month low of $117.57 and a twelve month high of $177.66.

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

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RJF shares. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Bank of America lifted their price target on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Barclays began coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective on the stock. Finally, TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Five 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.com, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $182.17.

Hedge Funds Weigh In On Raymond James Financial

Hedge funds have recently added to or reduced their stakes in the stock. Stance Capital LLC increased its stake in Raymond James Financial by 4.5% in the fourth quarter. Stance Capital LLC now owns 16,670 shares of the financial services provider’s stock valued at $2,677,000 after acquiring an additional 718 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Raymond James Financial by 18.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,015 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 1,107 shares in the last quarter. World Investment Advisors increased its stake in shares of Raymond James Financial by 0.5% in the 4th quarter. World Investment Advisors now owns 31,404 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 156 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Raymond James Financial by 3.8% during the 4th quarter. Corient Private Wealth LLC now owns 33,066 shares of the financial services provider’s stock worth $5,310,000 after buying an additional 1,219 shares in the last quarter. Finally, Reflection Asset Management bought a new stake in shares of Raymond James Financial during the 4th quarter worth $28,000. Institutional investors own 83.83% of the company’s stock.

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.