Raymond James Financial (NYSE:RJF) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

Raymond James Financial, Inc. (NYSE:RJF) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $163.18 and traded as high as $168.83. Raymond James Financial shares last traded at $167.6680, with a volume of 1,461,333 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RJF shares. The Goldman Sachs Group increased their price target on Raymond James Financial from $199.00 to $209.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Argus raised their price objective on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Truist Financial set a $165.00 price objective on Raymond James Financial and gave the company a “hold” rating in a report on Friday, October 30th. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $179.00 to $185.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Finally, UBS Group set a $179.00 target price on Raymond James Financial and gave the stock a “neutral” rating in a report on Wednesday, October 7th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $181.46.

Raymond James Financial Stock Performance

The stock’s fifty day moving average price is $163.18 and its two-hundred day moving average price is $160.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The company has a market cap of $32.25 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.90 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.33. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.20 billion. Raymond James Financial had a net margin of 13.50% and a return on equity of 19.52%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $3.11 EPS. As a group, equities analysts predict that Raymond James Financial, Inc. will post 14.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.12%.

Insider Activity

In other news, insider Bella Allaire sold 7,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider owned 46,086 shares of the company’s stock, valued at approximately $8,184,873.60. The trade was a 14.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Raymond James Financial during the second quarter worth about $2,180,699,000. Primecap Management Co. CA bought a new position in shares of Raymond James Financial in the second quarter worth about $1,405,145,000. Bank of America Corp DE acquired a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $360,592,000. Bank of New York Mellon Corp acquired a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $182,254,000. Finally, Legal & General Group Plc acquired a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $181,811,000. 83.83% of the stock is owned by institutional investors and hedge funds.

About Raymond James Financial

Raymond James Financial, Inc is a diversified financial services company that provides wealth management, investment banking, asset management and banking services. Through its financial advisors and related businesses, it serves individuals, families, businesses and institutions.

The company offers financial planning, investment advisory and brokerage services, along with corporate finance, equity and fixed-income capital markets services. Its asset management business provides investment strategies and portfolio solutions, while Raymond James Bank offers banking and lending services.

Founded in 1962 by Robert A.