Raymond James Financial (NYSE:RJF) Insider Bella Loykhter Allaire 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 that occurred on Friday, August 28th. The stock was sold at an average price of $177.60, for a total value of $1,332,000.00. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Raymond James Financial Price Performance

RJF stock opened at $178.33 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $34.30 billion, a P/E ratio of 15.55, a PEG ratio of 1.10 and a beta of 0.92. The business has a 50 day simple moving average of $170.68 and a 200-day simple moving average of $158.13. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73.

Raymond James Financial (NYSE:RJF) last announced its earnings results 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 19.07%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the company posted $2.18 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.54 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s payout ratio is currently 18.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RJF shares. Morgan Stanley increased their target price on shares of 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. Citizens Jmp upped their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. 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 note on Thursday, July 23rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $181.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in shares of Raymond James Financial during the fourth quarter worth about $28,000. Hilton Head Capital Partners LLC purchased a new position in shares of Raymond James Financial during the fourth quarter valued at approximately $35,000. Jones Financial Companies Lllp acquired a new stake in Raymond James Financial during the second quarter worth approximately $36,000. Steigerwald Gordon & Koch Inc. grew its stake in Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 228 shares during the period. Finally, Clearstead Trust LLC acquired a new position in Raymond James Financial in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.