Raymond James (NYSE:RJF) CEO Steven M. Raney Sells 4,174 Shares of Stock

Raymond James (NYSE:RJF) CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Raymond James Trading Up 1.1 %

RJF stock opened at $123.19 on Tuesday. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The company’s 50-day simple moving average is $123.20 and its 200 day simple moving average is $112.85. The company has a market capitalization of $25.75 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.05.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the company earned $2.03 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James will post 9.37 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RJF shares. Citigroup raised their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Bank of America decreased their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group restated a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.22.

Institutional Trading of Raymond James

Institutional investors have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in Raymond James in the fourth quarter valued at about $30,000. OLD Point Trust & Financial Services N A bought a new position in Raymond James in the 4th quarter valued at about $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the 1st quarter valued at approximately $33,000. Addison Advisors LLC lifted its holdings in shares of Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $50,000. 83.83% of the stock is currently 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.