Insider Selling: Raymond James (NYSE:RJF) Insider Sells $1,380,661.80 in Stock

Raymond James (NYSE:RJF) insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Raymond James Stock Up 0.1 %

Shares of RJF opened at $125.39 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. Raymond James has a 12 month low of $84.06 and a 12 month high of $131.19. The firm’s 50 day moving average is $124.00 and its 200-day moving average is $113.97. The stock has a market capitalization of $26.21 billion, a PE ratio of 15.16, a P/E/G ratio of 0.85 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. Raymond James’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.03 EPS. Equities research analysts forecast that Raymond James will post 9.56 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Raymond James’s payout ratio is 21.77%.

Hedge Funds Weigh In On Raymond James

Several hedge funds have recently bought and sold shares of the company. Drive Wealth Management LLC increased its stake in Raymond James by 3.4% in the first quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 85 shares during the last quarter. Steph & Co. increased its stake in shares of Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 91 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after buying an additional 93 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Raymond James by 12.4% in the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 96 shares during the last quarter. Finally, Oarsman Capital Inc. lifted its stake in Raymond James by 0.9% in the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after purchasing an additional 99 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on RJF shares. Morgan Stanley upped their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. TD Cowen lowered their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, UBS Group decreased their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.