Bella Loykhter Allaire Sells 6,570 Shares of Raymond James (NYSE:RJF) Stock

Raymond James (NYSE:RJF - Get Free Report) insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider now directly owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Raymond James Price Performance

Shares of Raymond James stock traded down $0.76 during mid-day trading on Friday, reaching $146.97. 2,849,562 shares of the stock were exchanged, compared to its average volume of 1,313,110. The company has a market cap of $29.65 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $140.27 and a 200 day simple moving average of $152.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

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

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Tuesday, July 1st. Raymond James's dividend payout ratio (DPR) is currently 19.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RJF shares. JMP Securities reissued a "market outperform" rating and issued a $175.00 price target on shares of Raymond James in a report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Bank of America downgraded shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Finally, Wall Street Zen downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Raymond James currently has a consensus rating of "Hold" and an average target price of $153.82.

Institutional Investors Weigh In On Raymond James

A number of hedge funds have recently made changes to their positions in the company. Crestwood Advisors Group LLC increased its position in shares of Raymond James by 3.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider's stock worth $308,000 after purchasing an additional 67 shares in the last quarter. Formidable Asset Management LLC increased its position in Raymond James by 0.9% in the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after acquiring an additional 67 shares in the last quarter. Venturi Wealth Management LLC increased its position in Raymond James by 2.2% in the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock valued at $461,000 after acquiring an additional 73 shares in the last quarter. Keybank National Association OH increased its position in Raymond James by 0.7% in the 4th quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock valued at $1,747,000 after acquiring an additional 76 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in Raymond James by 5.5% in the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock valued at $209,000 after acquiring an additional 78 shares in the last quarter. Institutional investors and hedge funds 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.