Insider Selling: Raymond James Financial (NYSE:RJF) Insider Sells $1,760,600.00 in Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Tashtego Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Raymond James Financial Trading Down 0.9%

NYSE:RJF traded down $1.51 during trading hours on Wednesday, reaching $175.67. 518,082 shares of the stock were exchanged, compared to its average volume of 1,419,963. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $178.28. The business has a 50-day moving average of $157.90 and a two-hundred day moving average of $156.66. The company has a market capitalization of $34.23 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.09 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The company’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 earnings per share. On average, equities analysts predict that Raymond James Financial, Inc. will post 12.04 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s payout ratio is currently 18.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $324,263,000. First Trust Advisors LP raised its position in Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after purchasing an additional 474,477 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Raymond James Financial during the 4th quarter worth $64,640,000. AQR Capital Management LLC raised its holdings in shares of Raymond James Financial by 40.0% in the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock valued at $176,124,000 after buying an additional 313,587 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Raymond James Financial by 7,823.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider’s stock valued at $49,809,000 after acquiring an additional 284,941 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RJF shares. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group lowered their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. TD Cowen cut their target price on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Citizens Jmp raised their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd. Finally, Barclays lifted their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Raymond James Financial has a consensus rating of “Hold” and an average price target of $179.64.

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.