Raymond James Financial (NYSE:RJF) shares dropped 3% during mid-day trading on Friday . The company traded as low as $91.46 and last traded at $88.86. Approximately 680,285 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 921,781 shares. The stock had previously closed at $91.60.
RJF has been the subject of a number of recent research reports. Credit Suisse Group reissued an “underperform” rating and set a $95.00 price objective (up from $82.00) on shares of Raymond James Financial in a research note on Tuesday, January 16th. Wells Fargo reissued an “outperform” rating and set a $110.00 price objective (up from $94.00) on shares of Raymond James Financial in a research note on Thursday, January 4th. Buckingham Research raised their price objective on shares of Raymond James Financial from $113.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $102.00 target price on shares of Raymond James Financial in a research note on Thursday, January 25th. Finally, ValuEngine raised shares of Raymond James Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Raymond James Financial presently has a consensus rating of “Buy” and a consensus price target of $95.29.
The stock has a market capitalization of $14,102.81, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. Raymond James Financial’s dividend payout ratio (DPR) is presently 24.27%.
In other Raymond James Financial news, COO Dennis W. Zank sold 20,003 shares of Raymond James Financial stock in a transaction on Friday, March 9th. The shares were sold at an average price of $98.63, for a total value of $1,972,895.89. Following the transaction, the chief operating officer now owns 150,849 shares in the company, valued at approximately $14,878,236.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tashtego S. Elwyn sold 7,275 shares of Raymond James Financial stock in a transaction on Monday, January 29th. The shares were sold at an average price of $97.36, for a total transaction of $708,294.00. Following the completion of the transaction, the insider now owns 10,871 shares in the company, valued at approximately $1,058,400.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,878 shares of company stock worth $3,774,080. 10.46% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in RJF. Viking Global Investors LP boosted its holdings in shares of Raymond James Financial by 48.7% in the 4th quarter. Viking Global Investors LP now owns 4,760,050 shares of the financial services provider’s stock valued at $425,072,000 after purchasing an additional 1,559,315 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Raymond James Financial by 21.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,002,228 shares of the financial services provider’s stock valued at $357,398,000 after acquiring an additional 693,916 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Raymond James Financial by 222.3% during the 4th quarter. Millennium Management LLC now owns 651,168 shares of the financial services provider’s stock valued at $58,149,000 after acquiring an additional 449,107 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Raymond James Financial during the 4th quarter valued at $36,703,000. Finally, BlackRock Inc. lifted its holdings in shares of Raymond James Financial by 4.7% during the 4th quarter. BlackRock Inc. now owns 8,483,302 shares of the financial services provider’s stock valued at $757,558,000 after acquiring an additional 383,937 shares in the last quarter. Institutional investors own 70.93% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was first reported by Ticker Report and is owned by of Ticker Report. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://www.tickerreport.com/banking-finance/3293633/raymond-james-financial-rjf-trading-down-3.html.
About Raymond James Financial
Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.
Receive News & Ratings for Raymond James Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial and related companies with MarketBeat.com's FREE daily email newsletter.