Raymond James (NYSE:RJF) Insider Tashtego S. Elwyn Sells 10,000 Shares

Raymond James (NYSE:RJF) insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Raymond James Price Performance

RJF stock traded down $0.08 during midday trading on Monday, hitting $160.41. The company’s stock had a trading volume of 1,079,748 shares, compared to its average volume of 1,139,818. The firm has a market capitalization of $32.73 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38. The company has a 50 day moving average of $152.45 and a two-hundred day moving average of $130.12.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company posted $2.13 earnings per share. On average, analysts expect that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s payout ratio is 18.54%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RJF shares. Morgan Stanley upped their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities boosted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $142.45.

Hedge Funds Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP purchased a new stake in Raymond James during the second quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new position in Raymond James during the third quarter valued at $32,000. Gladius Capital Management LP purchased a new position in shares of Raymond James in the 3rd quarter worth $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the 3rd quarter worth about $37,000. 83.83% of the stock is owned by institutional investors.

About Raymond James

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.