Raymond James Financial (NYSE:RJF) Stock Price Down 7.2% – Should You Sell?

Raymond James Financial, Inc. (NYSE:RJF) shares traded down 7.2% on Tuesday . The company traded as low as $164.63 and last traded at $161.1220. 530,625 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 1,213,459 shares. The stock had previously closed at $173.67.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. JMP Securities boosted their price objective on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. BMO Capital Markets increased 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, Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Trading Down 8.7%

The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market cap of $31.31 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.28 and a beta of 1.00. The company has a 50-day moving average price of $166.26 and a 200 day moving average price of $165.14.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.93 EPS. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.54 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s payout ratio is 21.14%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Great Valley Advisor Group Inc. raised its holdings in Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the period. Meridian Wealth Advisors LLC increased its stake in shares of Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after purchasing an additional 62 shares during the period. Waterloo Capital L.P. lifted its position in shares of Raymond James Financial by 2.0% during the 2nd quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 64 shares during the last quarter. Wedmont Private Capital grew its holdings in Raymond James Financial by 0.6% in the 3rd quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock valued at $1,727,000 after buying an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in Raymond James Financial by 2.0% in the 3rd quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock worth $563,000 after buying an additional 65 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.