Insider Selling: Raymond James (NYSE:RJF) Insider Sells $1,594,700.00 in Stock

Raymond James (NYSE:RJF) insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Raymond James Price Performance

Shares of Raymond James stock opened at $152.42 on Thursday. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $154.29 and its two-hundred day moving average price is $130.79. The stock has a market cap of $31.10 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 earnings per share. As a group, sell-side analysts anticipate that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. Raymond James’s dividend payout ratio (DPR) is currently 20.60%.

Institutional Investors Weigh In On Raymond James

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its holdings in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after buying an additional 64 shares during the period. Metis Global Partners LLC raised its holdings in shares of Raymond James by 1.4% during the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 82 shares during the period. Wedmont Private Capital lifted its position in shares of Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 86 shares in the last quarter. Portside Wealth Group LLC boosted its stake in Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares during the period. Finally, Gilliland Jeter Wealth Management LLC grew its position in Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 96 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on RJF. TD Cowen lifted their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $169.00 target price (up previously from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $142.45.

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.