Raymond James (NYSE:RJF) CAO Sells $270,000.00 in Stock

Raymond James (NYSE:RJF) CAO Jennifer C. Ackart sold 3,000 shares of Raymond James stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $90.00, for a total transaction of $270,000.00. Following the completion of the transaction, the chief accounting officer now owns 9,064 shares of the company’s stock, valued at approximately $815,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NYSE RJF opened at $89.82 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. Raymond James has a 52 week low of $69.11 and a 52 week high of $92.00. The stock has a market capitalization of $12.55 billion, a PE ratio of 12.14 and a beta of 1.52. The firm has a 50 day moving average of $86.07 and a two-hundred day moving average of $83.06.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.99 by $0.01. Raymond James had a net margin of 12.89% and a return on equity of 16.51%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Raymond James will post 8.1 earnings per share for the current fiscal year.

RJF has been the subject of a number of research reports. Credit Suisse Group dropped their price objective on shares of Raymond James from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Morgan Stanley initiated coverage on shares of Raymond James in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $91.00 price objective for the company. ValuEngine cut shares of Raymond James from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th. Finally, Citigroup dropped their price objective on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Raymond James currently has an average rating of “Hold” and a consensus target price of $92.71.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Raymond James by 648.8% in the 2nd quarter. Bank of Montreal Can now owns 758,259 shares of the financial services provider’s stock valued at $64,111,000 after acquiring an additional 656,997 shares during the last quarter. First Trust Advisors LP grew its stake in Raymond James by 519.8% in the 2nd quarter. First Trust Advisors LP now owns 772,906 shares of the financial services provider’s stock valued at $65,349,000 after acquiring an additional 648,198 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Raymond James by 119.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,146,700 shares of the financial services provider’s stock valued at $96,954,000 after acquiring an additional 623,322 shares during the last quarter. Marshall Wace LLP acquired a new stake in Raymond James in the 2nd quarter valued at about $38,700,000. Finally, Bank of New York Mellon Corp grew its stake in Raymond James by 10.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,787,923 shares of the financial services provider’s stock valued at $151,170,000 after acquiring an additional 175,088 shares during the last quarter. Institutional investors own 70.85% 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.

See Also: Closed-End Mutual Funds (CEFs)

Insider Buying and Selling by Quarter for Raymond James (NYSE:RJF)

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