Bella Loykhter Allaire Sells 7,500 Shares of Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 7,500 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the sale, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This trade represents a 14.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Raymond James Financial Stock Performance

Shares of NYSE RJF opened at $172.65 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $170.99 and its two-hundred day moving average price is $158.23. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73. The stock has a market capitalization of $33.21 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.09 and a beta of 0.91.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. As a group, sell-side analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s payout ratio is 18.83%.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. BMO Capital Markets restated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Morgan Stanley increased their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Truist Financial set a $188.00 price objective on Raymond James Financial and gave the stock a “hold” rating in a research note on Tuesday. Finally, Barclays upped their price objective on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $181.46.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Reflection Asset Management bought a new position in Raymond James Financial during the fourth quarter valued at approximately $28,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the fourth quarter valued at about $35,000. Jones Financial Companies Lllp bought a new position in Raymond James Financial during the second quarter valued at about $36,000. Steigerwald Gordon & Koch Inc. lifted its position in shares of Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after buying an additional 228 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of Raymond James Financial in the second quarter worth about $40,000. 83.83% of the stock is owned by institutional investors and hedge funds.

About Raymond James Financial

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.