Insider Selling: Raymond James (NYSE:RJF) CEO Sells 31,277 Shares of Stock

Raymond James (NYSE:RJF) CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Raymond James Price Performance

Shares of RJF stock traded up $1.67 during trading hours on Tuesday, hitting $111.79. The company had a trading volume of 1,099,926 shares, compared to its average volume of 1,150,310. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.73 and a beta of 1.02. The firm’s fifty day moving average is $116.69 and its 200 day moving average is $120.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a return on equity of 18.67% and a net margin of 13.16%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. On average, sell-side analysts predict that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.61%. Raymond James’s dividend payout ratio is currently 21.77%.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently added to or reduced their stakes in RJF. Drive Wealth Management LLC increased its position in shares of 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 period. Steph & Co. boosted its position in shares of Raymond James by 9.3% in the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 91 shares during the period. Private Advisor Group LLC boosted its position in shares of Raymond James by 3.6% during the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 93 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Raymond James by 12.4% during 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, Gilliland Jeter Wealth Management LLC lifted its position in Raymond James by 1.6% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on RJF shares. TD Cowen boosted their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Keefe, Bruyette & Woods decreased their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. UBS Group dropped their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Bank of America lowered their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $129.89.

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.