Raymond James Financial (NYSE:RJF) Insider Sells $1,760,600.00 in Stock
by Mitch Edgeman · The Markets DailyRaymond James Financial, Inc. (NYSE:RJF – Get Free Report) insider Tashtego Elwyn sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the sale, the insider owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Raymond James Financial Trading Up 0.7%
Shares of Raymond James Financial stock opened at $176.12 on Friday. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $178.28. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s 50-day simple moving average is $159.33 and its 200-day simple moving average is $156.89. The firm has a market cap of $34.32 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93.
Raymond James Financial (NYSE:RJF – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating 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 19.17%. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.
Raymond James Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 18.83%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on RJF shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Barclays boosted their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. 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 research report on Thursday, July 23rd. Citizens Jmp increased their target price 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. Finally, UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Monday. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $181.00.
Institutional Investors Weigh In On Raymond James Financial
A number of large investors have recently added to or reduced their stakes in RJF. Reflection Asset Management purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial during the 4th quarter worth approximately $32,000. Hilton Head Capital Partners LLC purchased a new position in shares of Raymond James Financial during the 4th quarter worth approximately $35,000. Steigerwald Gordon & Koch Inc. raised its position in shares of Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 228 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in Raymond James Financial in the 4th quarter valued at approximately $40,000. 83.83% of the stock is owned by institutional investors and hedge funds.
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.