Raymond James (NYSE:RJF) Insider James E. Bunn Sells 11,095 Shares of Stock

Raymond James (NYSE:RJF) insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Raymond James Trading Up 0.9 %

Shares of Raymond James stock opened at $125.57 on Tuesday. Raymond James has a 1-year low of $84.06 and a 1-year high of $131.19. The company’s fifty day simple moving average is $123.65 and its 200-day simple moving average is $113.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market capitalization of $26.25 billion, a PE ratio of 15.18, a P/E/G ratio of 0.85 and a beta of 1.03.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 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 company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given 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 dividend yield of 1.43%. Raymond James’s payout ratio is currently 21.77%.

Analysts Set New Price Targets

Several research firms recently commented on RJF. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Morgan Stanley boosted their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Citigroup boosted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $126.22.

Institutional Investors Weigh In On Raymond James

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the first quarter worth approximately $33,000. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the 4th quarter worth $30,000. OLD Point Trust & Financial Services N A purchased a new stake in Raymond James in the 4th quarter worth $33,000. Addison Advisors LLC raised its holdings in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Raymond James by 46.9% in the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.