Raymond James (NYSE:RJF) CEO Paul C. Reilly Sells 50,000 Shares

Raymond James (NYSE:RJF) CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Raymond James Trading Down 0.2 %

Shares of RJF stock opened at $165.51 on Friday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38. The company has a 50 day moving average price of $147.10 and a 200 day moving average price of $128.23. The stock has a market capitalization of $33.77 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00. 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 (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.21%. Raymond James’s dividend payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RJF shares. The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. JMP Securities boosted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. TD Cowen boosted their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Bank of America increased their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $140.91.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after purchasing an additional 474,443 shares during the last quarter. AGF Management Ltd. raised its holdings in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Raymond James during the 3rd quarter worth $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Raymond James during the third quarter worth $28,985,000. Institutional investors and hedge funds 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.