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 company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Raymond James Price Performance

RJF stock opened at $157.90 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a 50 day moving average price of $153.81 and a 200-day moving average price of $130.64. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.91 and a beta of 1.00.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the business earned $2.13 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. Raymond James’s payout ratio is presently 20.60%.

Analyst Ratings Changes

A number of brokerages recently commented on RJF. The Goldman Sachs Group upped their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. TD Cowen lifted their target price 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. JMP Securities boosted their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $169.00 price objective (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $142.45.

Institutional Trading of Raymond James

Institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Quarry LP purchased a new position in Raymond James in the 2nd quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in Raymond James in the 3rd quarter worth approximately $32,000. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at $37,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.