Insider Selling: Raymond James (NYSE:RJF) EVP Sells $1,996,745.00 in Stock

Raymond James (NYSE:RJF) EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Raymond James Price Performance

NYSE:RJF opened at $109.00 on Monday. The stock has a market cap of $22.59 billion, a PE ratio of 13.18, a P/E/G ratio of 0.76 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $118.41 and its two-hundred day simple moving average is $120.19. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.67% and a net margin of 13.16%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 EPS. As a group, analysts forecast that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s payout ratio is currently 21.77%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RJF. Citigroup boosted their target price on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. UBS Group dropped their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group lifted their price target on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $129.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Raymond James in the fourth quarter worth about $30,000. Smithfield Trust Co raised its holdings in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd boosted its position in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James in the fourth quarter valued at $33,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Raymond James in the first quarter worth $33,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.