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

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 7,500 shares of Raymond James Financial stock in a transaction on Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Raymond James Financial Trading Down 0.6%

Shares of RJF stock traded down $1.03 on Monday, reaching $178.33. 1,266,497 shares of the stock were exchanged, compared to its average volume of 1,366,208. The stock has a market cap of $34.30 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $170.25 and a two-hundred day moving average of $157.99. 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 announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate 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 return on equity of 19.07% and a net margin of 13.57%.The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. On average, research analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.54 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.16 annualized dividend and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. TD Cowen dropped their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Argus increased their price target on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley boosted their price objective on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $181.00.

Institutional Trading of Raymond James Financial

Several institutional investors have recently added to or reduced their stakes in RJF. Amundi grew its holdings in Raymond James Financial by 19.3% during the 2nd quarter. Amundi now owns 478,939 shares of the financial services provider’s stock worth $72,813,000 after acquiring an additional 77,638 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Raymond James Financial by 14,565.3% in the 2nd quarter. California State Teachers Retirement System now owns 39,471,093 shares of the financial services provider’s stock valued at $6,000,790,000 after purchasing an additional 39,201,946 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Raymond James Financial by 4.0% in the 2nd quarter. Wedmont Private Capital now owns 10,764 shares of the financial services provider’s stock valued at $1,810,000 after purchasing an additional 410 shares in the last quarter. Nilsine Partners LLC lifted its position in shares of Raymond James Financial by 2.1% during the second quarter. Nilsine Partners LLC now owns 14,060 shares of the financial services provider’s stock worth $2,138,000 after purchasing an additional 285 shares during the last quarter. Finally, Saudi Central Bank lifted its position in shares of Raymond James Financial by 79.3% during the second quarter. Saudi Central Bank now owns 12,417 shares of the financial services provider’s stock worth $1,888,000 after purchasing an additional 5,493 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

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.