Raymond James Financial, Inc. $RJF Shares Sold by Inceptionr LLC

Key Points

• Insider sale: Director Paul C. Reilly sold 130,687 shares on Dec. 15 at an average of $163.15 for about $21.32 million, reducing his position by 33.4% (he now owns 260,546 shares).
• Institutional selling: Inceptionr LLC cut its Raymond James stake by 83.5%, selling 12,562 shares and leaving 2,488 shares valued at $428,000, while overall institutional investors hold about 83.8% of the stock.
• Quarterly results and payout: RJF reported Q results with EPS of $2.86 (beat by $0.03) and revenue of $3.74B (below estimates), and announced a $0.54 quarterly dividend (annualized $2.16, yield ~1.5%), ex-dividend Apr. 1 and payable Apr. 15.

Inceptionr LLC reduced its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 83.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,488 shares of the financial services provider's stock after selling 12,562 shares during the period. Inceptionr LLC's holdings in Raymond James Financial were worth $428,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in Raymond James Financial in the third quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter valued at about $31,000. Quent Capital LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter valued at about $33,000. Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial in the third quarter worth about $33,000. Finally, Clearstead Trust LLC lifted its holdings in Raymond James Financial by 174.0% in the third quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a "neutral" rating in a research note on Thursday, December 11th. Morgan Stanley restated a "positive" rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Bank of America lifted their price target on Raymond James Financial from $194.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, December 10th. Finally, Barclays began coverage on Raymond James Financial in a research note on Wednesday, January 28th. They set an "overweight" rating and a $191.00 target price for the company. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $182.17.

Raymond James Financial Stock Down 0.2%

Shares of RJF opened at $148.36 on Thursday. The stock has a 50 day moving average price of $163.03 and a 200 day moving average price of $163.65. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The stock has a market capitalization of $29.24 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.10 and a beta of 1.00.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial's payout ratio is currently 21.14%.

Raymond James Financial 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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