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 business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $198,233.10.

Raymond James Stock Performance

Shares of RJF opened at $165.76 on Thursday. The stock has a 50 day moving average price of $146.28 and a 200 day moving average price of $127.97. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $33.82 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38.

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

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 18.54%.

Institutional Investors Weigh In On Raymond James

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its stake in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Quarry LP purchased a new stake in Raymond James in the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new stake in Raymond James in the third quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new stake in Raymond James in the third quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RJF shares. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. TD Cowen boosted their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $140.91.

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.