Steven Raney Sells 5,770 Shares of Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Steven Raney sold 5,770 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Raymond James Financial Trading Up 2.2%

Shares of RJF traded up $3.90 during midday trading on Tuesday, reaching $177.50. The company had a trading volume of 1,391,155 shares, compared to its average volume of 1,426,587. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year 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. The firm has a 50 day simple moving average of $157.38 and a 200-day simple moving average of $156.57. The stock has a market cap of $34.59 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.93.

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, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the company posted $2.18 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. Research analysts forecast that Raymond James Financial, Inc. will post 12.01 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.54 dividend. 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 payout ratio is presently 18.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RJF shares. UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Barclays raised their target price on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group decreased their price target on 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. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $179.64.

Hedge Funds Weigh In On Raymond James Financial

Several large investors have recently made changes to their positions in RJF. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial during the 4th quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new position in Raymond James Financial during the 4th quarter worth about $35,000. Steigerwald Gordon & Koch Inc. boosted its holdings in Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 228 shares during the period. Finally, DV Equities LLC purchased a new position in Raymond James Financial during the 4th quarter valued at about $40,000. 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.