Insider Selling: Raymond James (NYSE:RJF) CEO Sells 31,277 Shares of Stock

Raymond James (NYSE:RJF) CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Raymond James Stock Performance

Shares of NYSE:RJF traded up $1.67 during mid-day trading on Tuesday, reaching $111.79. The company had a trading volume of 1,099,926 shares, compared to its average volume of 1,150,310. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.73 and a beta of 1.02. The company’s 50-day moving average price is $116.69 and its 200-day moving average price is $120.02. Raymond James has a one year low of $91.67 and a one year high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.67%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. As a group, equities research analysts anticipate that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is 21.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RJF. AGF Management Ltd. lifted its position in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Earnest Partners LLC lifted its holdings in Raymond James by 5.9% in the 1st quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after acquiring an additional 138,075 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after buying an additional 25,494 shares during the period. Norges Bank acquired a new position in shares of Raymond James in the 4th quarter valued at about $238,830,000. Finally, Dimensional Fund Advisors LP boosted its position in Raymond James by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after purchasing an additional 113,826 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Cowen upped their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods decreased their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group raised their target price on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, UBS Group lowered their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average price target of $129.89.

Raymond James Company Profile

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.