Raymond James Financial (NYSE:RJF) Insider Bella Loykhter Allaire Sells 29,551 Shares

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Raymond James Financial Trading Up 0.5%

RJF opened at $143.63 on Friday. The firm’s 50 day moving average is $159.97 and its 200-day moving average is $162.50. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $28.31 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.06 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the business earned $2.93 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Analyst Ratings Changes

Several research analysts have weighed in on RJF shares. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Barclays began coverage on Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective on the stock. UBS Group set a $176.00 target price on Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Finally, Bank of America lifted their price objective on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, December 10th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $182.17.

Institutional Investors Weigh In On Raymond James Financial

Several large investors have recently added to or reduced their stakes in RJF. Purpose Unlimited Inc. acquired a new position in shares of Raymond James Financial during the fourth quarter valued at $193,000. Stance Capital LLC raised its holdings in shares of Raymond James Financial by 4.5% during the fourth quarter. Stance Capital LLC now owns 16,670 shares of the financial services provider’s stock valued at $2,677,000 after buying an additional 718 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Raymond James Financial by 18.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,015 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 1,107 shares during the last quarter. World Investment Advisors boosted its position in shares of Raymond James Financial by 0.5% during the fourth quarter. World Investment Advisors now owns 31,404 shares of the financial services provider’s stock worth $5,043,000 after buying an additional 156 shares during the period. Finally, Corient Private Wealth LLC increased its position in Raymond James Financial by 3.8% in the 4th quarter. Corient Private Wealth LLC now owns 33,066 shares of the financial services provider’s stock valued at $5,310,000 after acquiring an additional 1,219 shares during the period. 83.83% of the stock is 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.