Jonathan N. Santelli, Executive Vice President, General Counsel, and Secretary at Raymond James Financial Inc . (NYSE:RJF), a financial services firm with a market capitalization of $35.1 billion and an impressive 40-year track record of consistent dividend payments, executed a sale of 3,100 shares of common stock on December 5, 2024. The company has demonstrated strong performance this year, with shares up over 50% year-to-date. The shares were sold at a weighted average price of $165.5863, resulting in a total transaction value of approximately $513,317. Following the sale, Santelli holds 26,845 shares directly. Additionally, he has 491 shares indirectly owned through his Employee Stock Ownership Plan (ESOP) account. The reported sale was executed through multiple transactions within a price range of $165.57 to $165.61. According to InvestingPro analysis, Raymond (NS:RYMD) James currently trades at an attractive P/E ratio of 13.7x and maintains a "GREAT" financial health score, with its stock trading slightly below Fair Value. For comprehensive insider trading analysis and 10 additional ProTips, including detailed valuation metrics, visit InvestingPro's detailed research report.
In other recent news, Raymond James Financial has announced an increase in its quarterly dividend and a new share repurchase program. The company's board declared a cash dividend of $0.50 per share, marking an 11.1% increase from the prior dividend. Additionally, Raymond James authorized a new stock repurchase program, with the company potentially buying back shares up to an aggregate amount of $1.5 billion. In recent developments, Raymond James reported record fourth-quarter revenues of $3.46 billion and a net income of $601 million. Analyst firms such as TD Cowen, BofA Securities, and Citi have adjusted their outlooks on Raymond James, with changes to price targets following these results. BofA and Citi increased their price targets to $152 and $145 respectively, while TD Cowen maintained a Hold rating but increased the price target to $150.00. These adjustments come after Raymond James' strong earnings report and the company's optimistic outlook for fiscal 2025, expecting growth driven by increases in assets and fee-based accounts.
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