Raymond James Financial (NYSE:RJF) Insider Tashtego Elwyn Sells 10,000 Shares of Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Tashtego Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Raymond James Financial Stock Down 1.7%

Shares of NYSE:RJF opened at $174.14 on Thursday. The business’s 50 day moving average is $158.34 and its 200 day moving average is $156.70. The stock has a market cap of $33.94 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.93. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $178.28. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 EPS. Sell-side analysts predict that Raymond James Financial, Inc. will post 12.04 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 18.83%.

Institutional Trading of Raymond James Financial

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after buying an additional 474,477 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after purchasing an additional 21,856 shares during the last quarter. Bank of America Corp DE lifted its position in Raymond James Financial by 9.9% during the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock valued at $354,701,000 after purchasing an additional 220,227 shares during the period. Dimensional Fund Advisors LP grew its position in Raymond James Financial by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after purchasing an additional 41,413 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock valued at $375,543,000 after buying an additional 254,773 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RJF. Jefferies Financial Group dropped their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, Morgan Stanley raised their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $179.64.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.