Raymond James Financial, Inc. (NYSE:RJF – Get Free Report) insider Tashtego Elwyn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Raymond James Financial Stock Performance
Shares of NYSE RJF opened at $175.00 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $158.84 and its two-hundred day moving average price is $156.75. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $178.28. The stock has a market capitalization of $34.11 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.07 and a beta of 0.93.
Raymond James Financial (NYSE:RJF – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. As a group, sell-side analysts forecast that Raymond James Financial, Inc. will post 12.04 earnings per share for the current year.
Raymond James Financial Announces Dividend
Institutional Trading of Raymond James Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in RJF. Great Valley Advisor Group Inc. grew its holdings in Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the period. Collective Family Office LLC lifted its holdings in Raymond James Financial by 3.0% in the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 62 shares during the last quarter. Salomon & Ludwin LLC boosted its position in shares of Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in shares of Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 68 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 71 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on RJF shares. BMO Capital Markets restated a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Morgan Stanley lifted their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Barclays boosted their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $181.00.
Check Out Our Latest Analysis on Raymond James Financial
Raymond James Financial Company Profile
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.
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