Insider Selling: Raymond James Financial (NYSE:RJF) Insider Sells 130,687 Shares of Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Paul Reilly sold 130,687 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Raymond James Financial Stock Performance

Raymond James Financial stock traded down $1.01 during trading hours on Monday, reaching $162.84. 1,317,143 shares of the company were exchanged, compared to its average volume of 1,188,944. The stock has a 50-day moving average of $160.50 and a 200 day moving average of $161.21. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.00 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.95 EPS. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, January 2nd. Raymond James Financial’s payout ratio is presently 19.44%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JMP Securities lifted their price objective on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, October 23rd. Bank of America raised their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. BMO Capital Markets raised their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Finally, TD Cowen boosted their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $180.45.

Hedge Funds Weigh In On Raymond James Financial

Several hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA raised its holdings in shares of Raymond James Financial by 3.0% during the 2nd quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider’s stock worth $1,535,824,000 after buying an additional 295,163 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Raymond James Financial by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock worth $1,009,342,000 after buying an additional 230,871 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Raymond James Financial by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after acquiring an additional 29,086 shares during the last quarter. First Trust Advisors LP grew its position in Raymond James Financial by 4.5% during the 3rd quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock worth $448,332,000 after acquiring an additional 111,950 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Raymond James Financial by 3.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,406,749 shares of the financial services provider’s stock worth $369,123,000 after acquiring an additional 71,495 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

About Raymond James Financial

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.