Raymond James Financial (NYSE:RJF) Stock Price Down 7.2% – Should You Sell?

Raymond James Financial, Inc. (NYSE:RJF) traded down 7.2% on Tuesday . The stock traded as low as $164.63 and last traded at $161.1220. 530,625 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,213,459 shares. The stock had previously closed at $173.67.

Analyst Ratings Changes

A number of analysts have recently issued reports on RJF shares. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. BMO Capital Markets upped their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. JMP Securities raised their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. Finally, Bank of America upped their price objective on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus price target of $182.17.

Raymond James Financial Stock Down 8.7%

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’s 50-day simple moving average is $166.26 and its two-hundred day simple moving average is $165.14. The stock has a market cap of $31.31 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.28 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company earned $2.93 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s payout ratio is 21.14%.

Insider Activity

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction dated 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 transaction, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James Financial

A number of large investors have recently bought and sold shares of RJF. West Branch Capital LLC bought a new position in shares of Raymond James Financial during the third quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in Raymond James Financial during the third quarter worth approximately $31,000. Quent Capital LLC bought a new position in Raymond James Financial during the 3rd quarter worth $33,000. Anfield Capital Management LLC acquired a new position in Raymond James Financial in the 3rd quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.