Jeffrey A. Dowdle Sells 8,398 Shares of Raymond James (NYSE:RJF) Stock

Raymond James (NYSE:RJF) CAO Jeffrey A. Dowdle sold 8,398 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $84.91, for a total value of $713,074.18. Following the transaction, the chief accounting officer now owns 34,338 shares of the company’s stock, valued at approximately $2,915,639.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of RJF stock opened at $85.86 on Thursday. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 13.27 and a beta of 1.51. The business’s fifty day moving average is $78.83 and its 200 day moving average is $83.09. Raymond James has a twelve month low of $69.11 and a twelve month high of $96.76. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($0.06). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Raymond James had a return on equity of 16.12% and a net margin of 13.06%. Raymond James’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. Equities research analysts expect that Raymond James will post 7.4 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Tranquility Partners LLC purchased a new stake in Raymond James in the second quarter worth $572,000. Carroll Financial Associates Inc. grew its stake in Raymond James by 94.0% in the second quarter. Carroll Financial Associates Inc. now owns 8,876 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 4,301 shares during the period. Andra AP fonden purchased a new stake in shares of Raymond James in the first quarter worth $5,548,000. Atlas Capital Advisors LLC purchased a new stake in shares of Raymond James in the second quarter worth $31,000. Finally, Creative Planning grew its stake in shares of Raymond James by 703.2% in the second quarter. Creative Planning now owns 52,355 shares of the financial services provider’s stock worth $4,427,000 after acquiring an additional 45,837 shares during the last quarter. 70.78% of the stock is currently owned by institutional investors.

RJF has been the subject of a number of recent analyst reports. Citigroup set a $87.00 target price on Raymond James and gave the company a “hold” rating in a report on Friday, July 26th. ValuEngine downgraded Raymond James from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $93.88.

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.

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