Insider Selling: Raymond James (NYSE:RJF) Insider Sells 3,650 Shares of Stock

Raymond James (NYSE:RJF - Get Free Report) insider James E. Bunn sold 3,650 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider now owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Raymond James Stock Up 0.3 %

NYSE:RJF traded up $0.36 during trading hours on Tuesday, hitting $137.94. 490,488 shares of the company's stock traded hands, compared to its average volume of 1,292,350. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The firm has a market cap of $28.27 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The stock's fifty day moving average price is $139.99 and its two-hundred day moving average price is $152.07.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. Raymond James's payout ratio is 19.25%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RJF shares. JMP Securities reaffirmed a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a report on Thursday, April 24th. Bank of America increased their price objective on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Citigroup cut their price objective on Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $157.64.

Hedge Funds Weigh In On Raymond James

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Norges Bank bought a new position in shares of Raymond James during the 4th quarter valued at $294,647,000. Raymond James Financial Inc. acquired a new stake in shares of Raymond James in the fourth quarter worth about $105,701,000. GAMMA Investing LLC boosted its stake in shares of Raymond James by 25,259.8% during the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after acquiring an additional 672,164 shares in the last quarter. Select Equity Group L.P. acquired a new position in shares of Raymond James during the 4th quarter valued at about $81,611,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

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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