Bella Loykhter Allaire Sells 29,551 Shares of Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial, Inc. (NYSE:RJF) insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $143.63 on Friday. The company has a market cap of $28.31 billion, a P/E ratio of 14.05, a PEG ratio of 1.07 and a beta of 1.00. The firm has a fifty day moving average price of $159.97 and a 200 day moving average price of $162.46. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.Raymond James Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $2.93 earnings per share. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given 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 of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is 21.14%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new stake in Raymond James Financial in the third quarter valued at approximately $26,000. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the fourth quarter worth approximately $28,000. Salomon & Ludwin LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial in the 4th quarter valued at $32,000. Finally, Quent Capital LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group set a $176.00 price target on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Bank of America lifted their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Raymond James Financial has a consensus rating of “Hold” and an average price target of $182.17.

About Raymond James Financial

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.