Insider Selling: Raymond James (NYSE:RJF) Insider Sells 10,000 Shares of Stock

Raymond James (NYSE:RJF) insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Raymond James Trading Down 0.0 %

Shares of RJF opened at $160.41 on Tuesday. The stock has a market capitalization of $32.73 billion, a PE ratio of 16.52, a P/E/G ratio of 0.91 and a beta of 1.00. The company’s fifty day moving average is $153.15 and its 200 day moving average is $130.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the firm posted $2.13 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Sell-side analysts expect that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. Raymond James’s dividend payout ratio is 18.54%.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent analyst reports. JMP Securities upped their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Bank of America increased their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus price target of $142.45.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Raymond James by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after buying an additional 7,028 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Raymond James in the third quarter valued at $3,561,000. XTX Topco Ltd raised its stake in shares of Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock valued at $1,032,000 after acquiring an additional 6,649 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Raymond James by 109.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after acquiring an additional 58,200 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Raymond James by 10.4% during the 2nd quarter. Raymond James Trust N.A. now owns 202,221 shares of the financial services provider’s stock worth $24,997,000 after purchasing an additional 18,968 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

About Raymond James

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.