Raymond James Financial (NYSE:RJF) Insider Paul Reilly Sells 130,687 Shares

Raymond James Financial, Inc. (NYSE:RJF) insider Paul Reilly sold 130,687 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Raymond James Financial Stock Down 0.6%

Raymond James Financial stock traded down $1.01 during trading on Monday, reaching $162.84. 1,317,143 shares of the company’s stock were exchanged, compared to its average volume of 1,188,944. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company’s 50-day moving average is $160.50 and its two-hundred day moving average is $161.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.00 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is 19.44%.

Institutional Investors Weigh In On Raymond James Financial

A number of hedge funds and other institutional investors have recently modified their holdings of RJF. West Branch Capital LLC acquired a new stake in shares of Raymond James Financial during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new stake in Raymond James Financial during the 3rd quarter worth about $31,000. Quent Capital LLC purchased a new position in Raymond James Financial during the 3rd quarter valued at about $33,000. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial during the 3rd quarter valued at $33,000. Finally, Princeton Global Asset Management LLC grew its stake in Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on RJF. JMP Securities raised their price objective on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.45.

About Raymond James Financial

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.