Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) insider Bella Loykhter Allaire sold 7,500 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $177.60, for a total value of $1,332,000.00. Following the completion of the sale, the insider directly owned 46,086 shares in the company, valued at approximately $8,184,873.60. The trade was a 14.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Raymond James Financial Trading Down 0.6%
NYSE RJF opened at $178.33 on Tuesday. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73. The company has a 50-day moving average of $170.68 and a 200-day moving average of $158.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The company has a market cap of $34.30 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.10 and a beta of 0.92.
Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping 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 19.07%. The business had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.87 billion. During the same period last year, the company earned $2.18 earnings per share. The company's quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.
Raymond James Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is currently 18.83%.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Morgan Stanley upped their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Friday, July 10th. Citizens Jmp lifted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a research note on Thursday, July 23rd. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a "neutral" rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Five equities 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 has a consensus rating of "Hold" and an average target price of $181.00.
Check Out Our Latest Research Report on Raymond James Financial
Hedge Funds Weigh In On Raymond James Financial
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Reflection Asset Management acquired a new stake in Raymond James Financial in the fourth quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $35,000. Jones Financial Companies Lllp acquired a new position in shares of Raymond James Financial during the second quarter worth $36,000. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 228 shares during the period. Finally, Clearstead Trust LLC acquired a new position in Raymond James Financial in the 2nd quarter worth $40,000. 83.83% of the stock is owned by institutional investors and hedge funds.
About Raymond James Financial
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
