Raymond James (RJF) CEO Sells $265,095.60 in Stock

Raymond James (NYSE:RJF) CEO Steven M. Raney sold 2,926 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $90.60, for a total transaction of $265,095.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Raymond James stock traded up $0.06 on Wednesday, hitting $88.10. The company’s stock had a trading volume of 7,822 shares, compared to its average volume of 952,540. Raymond James has a 52-week low of $69.11 and a 52-week high of $102.17. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $12.85 billion, a PE ratio of 13.63 and a beta of 1.58.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.14. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. Raymond James had a net margin of 12.90% and a return on equity of 15.98%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. On average, research analysts expect that Raymond James will post 7.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.36 dividend on an annualized basis and a yield of 1.54%. Raymond James’s dividend payout ratio (DPR) is 21.02%.

A number of large investors have recently added to or reduced their stakes in RJF. Parallel Advisors LLC lifted its holdings in Raymond James by 215.3% in the 1st quarter. Parallel Advisors LLC now owns 309 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 211 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Raymond James during the 4th quarter valued at about $26,000. CSat Investment Advisory L.P. increased its stake in shares of Raymond James by 86.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 345 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 160 shares during the last quarter. Bremer Trust National Association acquired a new position in shares of Raymond James during the 4th quarter valued at about $31,000. Finally, Executive Wealth Management LLC acquired a new position in shares of Raymond James during the 4th quarter valued at about $33,000. Institutional investors own 71.56% of the company’s stock.

RJF has been the topic of several research analyst reports. Wells Fargo & Co restated a “buy” rating on shares of Raymond James in a research report on Thursday, January 24th. ValuEngine lowered shares of Raymond James from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Credit Suisse Group decreased their price objective on shares of Raymond James from $100.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Argus began coverage on shares of Raymond James in a research report on Wednesday, March 6th. They issued a “buy” rating and a $92.00 price objective on the stock. Finally, Compass Point began coverage on shares of Raymond James in a research report on Monday, March 11th. They issued a “buy” rating and a $96.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $94.63.

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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.

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