Bella Loykhter Allaire Sells 3,451 Shares of Raymond James (NYSE:RJF) Stock

Raymond James (NYSE:RJF) insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,319,326.02. This represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bella Loykhter Allaire also recently made the following trade(s):

• On Friday, November 29th, Bella Loykhter Allaire sold 1,170 shares of Raymond James stock. The shares were sold at an average price of $169.43, for a total value of $198,233.10.

Raymond James Stock Down 0.9 %

Shares of Raymond James stock traded down $1.47 during trading on Tuesday, hitting $165.48. 1,246,031 shares of the stock traded hands, compared to its average volume of 1,142,133. The company has a fifty day moving average price of $145.46 and a two-hundred day moving average price of $127.69. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The stock has a market cap of $33.76 billion, a P/E ratio of 17.04, a PEG ratio of 0.97 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. Equities research analysts predict that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is 18.54%.

Analysts Set New Price Targets

Several brokerages have commented on RJF. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group raised their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Bank of America increased their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, JMP Securities raised their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $140.91.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RJF. Wellington Management Group LLP boosted its position in Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares during the period. Ceredex Value Advisors LLC lifted its position in Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after acquiring an additional 474,443 shares during the last quarter. AGF Management Ltd. boosted its holdings in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after acquiring an additional 378,033 shares during the period. Two Sigma Advisers LP bought a new position in shares of Raymond James in the third quarter worth about $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Raymond James during the third quarter worth approximately $28,985,000. 83.83% of the stock is owned by institutional investors.

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.