Insider Selling: Raymond James Financial (NYSE:RJF) Insider Sells $1,332,000.00 in Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 7,500 shares of Raymond James Financial stock in a transaction on Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of the sale, the insider directly owned 46,086 shares of the company’s stock, valued at approximately $8,184,873.60. The trade was a 14.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Raymond James Financial Trading Up 1.3%

Raymond James Financial stock opened at $175.69 on Thursday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73. The company’s fifty day moving average price is $171.41 and its two-hundred day moving average price is $158.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The company has a market capitalization of $33.80 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.06 and a beta of 0.91.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. On average, analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s payout ratio is 18.83%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RJF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. TD Cowen lowered their target price on shares of Raymond James Financial from $161.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Truist Financial set a $188.00 target price on shares of Raymond James Financial and gave the stock a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and a consensus target price of $181.46.

Hedge Funds Weigh In On Raymond James Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. increased its holdings in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 61 shares during the period. Collective Family Office LLC raised its stake in shares of Raymond James Financial by 3.0% in the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 62 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Raymond James Financial by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after buying an additional 71 shares in the last quarter. Parallel Advisors LLC increased its holdings in Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after buying an additional 71 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in shares of Raymond James Financial by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock valued at $358,000 after buying an additional 72 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

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.