Jennifer C. Ackart Sells 3,000 Shares of Raymond James Financial, Inc. (RJF) Stock

Raymond James Financial, Inc. (NYSE:RJF) SVP Jennifer C. Ackart sold 3,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $89.23, for a total value of $267,690.00. Following the completion of the sale, the senior vice president now directly owns 12,409 shares in the company, valued at approximately $1,107,255.07. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of Raymond James Financial, Inc. (NYSE:RJF) traded down $0.06 during midday trading on Friday, hitting $88.24. The stock had a trading volume of 1,420,791 shares, compared to its average volume of 782,878. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. Raymond James Financial, Inc. has a 1-year low of $68.97 and a 1-year high of $90.27. The firm has a market cap of $12,750.00, a price-to-earnings ratio of 17.13, a PEG ratio of 0.87 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $1.28 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. sell-side analysts forecast that Raymond James Financial, Inc. will post 5.89 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BT Investment Management Ltd purchased a new position in Raymond James Financial during the 2nd quarter worth approximately $98,773,000. Janus Henderson Group PLC grew its stake in Raymond James Financial by 188.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,206,006 shares of the financial services provider’s stock worth $96,746,000 after buying an additional 787,396 shares during the last quarter. Wells Fargo & Company MN grew its stake in Raymond James Financial by 25.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock worth $256,605,000 after buying an additional 642,474 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Raymond James Financial by 489.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock valued at $38,146,000 after purchasing an additional 391,701 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Raymond James Financial by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock valued at $1,034,139,000 after purchasing an additional 319,457 shares during the last quarter. 69.95% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on RJF. Buckingham Research raised their target price on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research lowered Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Credit Suisse Group began coverage on Raymond James Financial in a research report on Thursday. They set an “underperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Raymond James Financial currently has a consensus rating of “Buy” and a consensus price target of $88.57.

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Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Insider Buying and Selling by Quarter for Raymond James Financial (NYSE:RJF)

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