Raymond James (NYSE:RJF) Insider Sells $1,594,700.00 in Stock

Raymond James (NYSE:RJF) insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Raymond James Trading Down 0.0 %

NYSE:RJF traded down $0.08 during midday trading on Monday, hitting $160.41. The stock had a trading volume of 1,079,748 shares, compared to its average volume of 1,139,818. The stock has a 50-day moving average of $152.45 and a 200 day moving average of $130.12. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.91 and a beta of 1.00. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

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

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 18.54%.

Institutional Investors Weigh In On Raymond James

Several hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. increased its holdings in Raymond James by 1.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after buying an additional 64 shares during the period. Metis Global Partners LLC increased its holdings in shares of Raymond James by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 82 shares during the period. Wedmont Private Capital raised its position in shares of Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 86 shares in the last quarter. Portside Wealth Group LLC lifted its stake in shares of Raymond James by 3.9% during the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its position in Raymond James by 1.6% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $169.00 price objective (up from $152.00) on shares of Raymond James in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group boosted their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, TD Cowen increased their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $142.45.

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.