Insider Selling: Raymond James (NYSE:RJF) Insider Sells 11,095 Shares of Stock

Raymond James (NYSE:RJF) insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Raymond James Stock Performance

RJF stock opened at $125.27 on Wednesday. The stock’s fifty day moving average is $123.79 and its two-hundred day moving average is $113.68. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a 1 year low of $84.06 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $2.03 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Raymond James will post 9.56 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of research reports. Citigroup lifted their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. UBS Group reduced their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, Bank of America dropped their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $126.22.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in shares of Raymond James by 18.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 43,235 shares of the financial services provider’s stock worth $4,342,000 after buying an additional 6,694 shares in the last quarter. SVB Wealth LLC raised its position in shares of Raymond James by 5.6% during the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 108 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Raymond James by 2.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,135 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 160 shares during the period. Raymond James & Associates raised its position in shares of Raymond James by 1.4% during the third quarter. Raymond James & Associates now owns 307,921 shares of the financial services provider’s stock worth $30,925,000 after purchasing an additional 4,137 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Raymond James by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 1,368,766 shares of the financial services provider’s stock worth $137,465,000 after purchasing an additional 15,227 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James

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.