Raymond James Financial (NYSE:RJF) Insider Steven Raney Sells 5,770 Shares of Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Steven Raney sold 5,770 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Raymond James Financial Price Performance

Shares of RJF opened at $177.50 on Wednesday. The firm has a 50-day simple moving average of $157.90 and a two-hundred day simple moving average of $156.66. The stock has a market cap of $34.59 billion, a PE ratio of 15.48, a P/E/G ratio of 1.09 and a beta of 0.93. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $178.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $2.18 EPS. As a group, analysts forecast that Raymond James Financial, Inc. will post 12.04 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. boosted its stake in shares of Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after buying an additional 61 shares during the period. Collective Family Office LLC increased its stake in shares of Raymond James Financial by 3.0% during the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock worth $323,000 after buying an additional 62 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after buying an additional 65 shares during the period. Bridgewater Advisors Inc. raised its holdings in Raymond James Financial by 1.3% in the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after acquiring an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Raymond James Financial by 10.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 71 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RJF has been the topic of several research reports. TD Cowen decreased their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Barclays lifted their target price on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley raised their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $179.64.

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.