Steven M. Raney Sells 4,174 Shares of Raymond James (NYSE:RJF) 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 completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Raymond James Stock Up 1.1 %

Shares of RJF stock traded up $1.33 on Monday, hitting $123.19. The company’s stock had a trading volume of 1,110,990 shares, compared to its average volume of 1,072,385. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19. The firm’s fifty day moving average price is $123.10 and its 200-day moving average price is $112.67. The stock has a market capitalization of $25.75 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.85 and a beta of 1.05.

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

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.45 dividend. 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 payout ratio is currently 21.77%.

Institutional Trading of Raymond James

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in Raymond James by 26.0% in the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after buying an additional 34,200 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Raymond James by 29.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 335,385 shares of the financial services provider’s stock worth $37,395,000 after purchasing an additional 77,263 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Raymond James by 13.3% during the third quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 318 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Raymond James by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 17,536 shares of the financial services provider’s stock worth $1,955,000 after purchasing an additional 997 shares in the last quarter. Finally, Operose Advisors LLC lifted its position in shares of Raymond James by 241.3% during the third quarter. Operose Advisors LLC now owns 1,024 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 724 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley lifted their price target on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Bank of America lowered their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $126.22.

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.