Shares of Raymond James Financial, Inc. (NYSE:RJF) dropped 5.5% during mid-day trading on Thursday . The stock traded as low as $86.02 and last traded at $86.06. Approximately 1,214,453 shares were traded during trading, an increase of 25% from the average daily volume of 970,291 shares. The stock had previously closed at $91.05.

RJF has been the topic of several research reports. Buckingham Research increased their price target on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Credit Suisse Group initiated coverage on shares of Raymond James Financial in a research report on Thursday, November 30th. They set an “underperform” rating and a $82.00 price target on the stock. Wells Fargo & Co reissued an “outperform” rating and set a $110.00 price target (up previously from $94.00) on shares of Raymond James Financial in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $102.00 price target on shares of Raymond James Financial in a research report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $99.29.

The company has a market cap of $12,810.00, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.74 and a beta of 1.63. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.19. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Raymond James Financial had a net margin of 9.00% and a return on equity of 15.07%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. equities research analysts forecast that Raymond James Financial, Inc. will post 6.89 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Wednesday, January 3rd were issued a $0.25 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, January 2nd. This represents a $1.00 annualized dividend and a yield of 1.15%. Raymond James Financial’s dividend payout ratio (DPR) is 24.27%.

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 8,997 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $85.17, for a total value of $766,274.49. Following the transaction, the insider now directly owns 22,178 shares in the company, valued at $1,888,900.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George Catanese sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.63, for a total transaction of $171,260.00. Following the completion of the transaction, the senior vice president now owns 6,678 shares in the company, valued at $571,837.14. The disclosure for this sale can be found here. Insiders sold 325,479 shares of company stock worth $28,161,533 over the last quarter. 10.46% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new position in Raymond James Financial in the fourth quarter valued at approximately $129,000. Tower Research Capital LLC TRC increased its stake in Raymond James Financial by 402.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,834 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 1,469 shares during the last quarter. Claraphi Advisory Network LLC purchased a new position in Raymond James Financial in the fourth quarter valued at approximately $202,000. Squar Milner Financial Services LLC purchased a new position in Raymond James Financial in the fourth quarter valued at approximately $205,000. Finally, Noesis Capital Mangement Corp purchased a new position in Raymond James Financial in the third quarter valued at approximately $210,000. Institutional investors own 69.36% of the company’s stock.

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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.

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