Insider Selling: Raymond James (NYSE:RJF) CEO Sells 4,174 Shares of Stock

Raymond James (NYSE:RJF) CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Raymond James Trading Up 1.1 %

RJF stock traded up $1.33 during midday trading on Monday, hitting $123.19. 1,110,990 shares of the company’s stock were exchanged, compared to its average volume of 1,072,385. The business has a 50-day simple moving average of $123.10 and a two-hundred day simple moving average of $112.67. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $25.75 billion, a PE ratio of 14.89, a P/E/G ratio of 0.85 and a beta of 1.05. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Raymond James will post 9.37 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.46%. Raymond James’s payout ratio is 21.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in Raymond James by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after buying an additional 246,349 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Raymond James by 4.8% in the 3rd quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after purchasing an additional 98,664 shares during the last quarter. AGF Management Ltd. increased its position in Raymond James by 5.9% in the 4th quarter. AGF Management Ltd. now owns 2,147,825 shares of the financial services provider’s stock valued at $239,482,000 after acquiring an additional 120,427 shares during the period. Norges Bank acquired a new position in Raymond James in the 4th quarter valued at about $238,830,000. Finally, Northern Trust Corp increased its position in Raymond James by 2.5% during the 3rd quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock worth $209,155,000 after purchasing an additional 51,239 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on RJF. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods dropped their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Morgan Stanley upped their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Citigroup upped their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $126.22.

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.