Raymond James (NYSE:RJF) Shares Gap Down to $121.11

Shares of Raymond James (NYSE:RJF - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $121.11, but opened at $117.47. Raymond James shares last traded at $117.21, with a volume of 694,218 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on RJF. Keefe, Bruyette & Woods reduced their price target on Raymond James from $132.00 to $131.00 and set a "market perform" rating for the company in a research report on Thursday, April 25th. UBS Group reduced their price target on Raymond James from $138.00 to $135.00 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. JMP Securities restated a "market perform" rating on shares of Raymond James in a report on Tuesday, April 9th. Wolfe Research restated a "peer perform" rating on shares of Raymond James in a report on Monday, July 8th. Finally, Citigroup upped their price objective on Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of "Hold" and an average price target of $129.89.

Raymond James Stock Performance

The firm has a market capitalization of $23.53 billion, a PE ratio of 13.73, a P/E/G ratio of 0.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The firm has a fifty day moving average price of $121.63 and a 200 day moving average price of $119.96.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts anticipate that Raymond James will post 9.53 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Monday, July 1st. Raymond James's dividend payout ratio is 21.77%.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 11,095 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company's stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider James E. Bunn sold 11,095 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company's stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven M. Raney sold 4,174 shares of the company's stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RJF. Norges Bank acquired a new position in Raymond James in the 4th quarter worth about $238,830,000. Heritage Wealth Advisors boosted its stake in shares of Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider's stock worth $62,702,000 after acquiring an additional 474,622 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Raymond James by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider's stock worth $204,335,000 after acquiring an additional 263,687 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider's stock worth $25,388,000 after acquiring an additional 176,210 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Raymond James by 27.4% during the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider's stock worth $90,273,000 after acquiring an additional 174,286 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

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.