Eye Catching Insider Trading: Raymond James Financial, Inc. (RJF)

Raymond James Financial, Inc. (NYSE:RJF) insider has recently participated in insider trading activity. Vice Chairman, GODBOLD FRANCIS S bought 18,000 shares for $720,744 via one transaction Feb 11. Following the transaction, the insider now owns 221,000 shares in total, priced at $9,061,000 as of Friday. Another notable insider trading was done by the same insider on Feb 08. Esty Benjamin acquired 1,000 shares at an average price of $42.18 for a total of $42,180. Moreover, this insider carried out a buy of 20,000 shares at $40.94 each on Feb 03. The transaction amounted to $203,000. Vice Chairman GODBOLD FRANCIS S bought 22,000 shares for $958,474 through one transaction Jan 25. Following this sale, this insider’s stake in the company comprises 183,000 shares, priced at $7,503,000 as of Friday.

The stock has experienced a total of 37 insider trades in the past three months. These trades include 23 sell activities and 14 buy trades. Furthermore, over the past 12 months, the stock was traded 47 times by insiders. In 33 of these trades, the insider was a seller while an employee of the company was the buyer in just 14 instances.

On Jan. 20, 2016 Steward Partners Global Advisory LLC (Steward), an employee-owned, full service independent partnership, aligned with Raymond James Financial, Inc. (RJF) announced that The Miner Group, consisting of Constance Miner, CFP and Ross Hamilton, CFP, have joined Steward Partners as Managing Director, Founding Partner, and Vice President, Founding Partner respectively. The Miner Group, formerly of UBS, join Steward’s fast growing Bethesda branch, expanding the firm’s presence in the Greater DC market. The team manages over $200 million in client assets, and produced $1.5 million in annual revenue.

“We are thrilled to add Connie and Ross to our team,” says Steward’s CEO, Jim Gold, “They will be great partners whose experience and stellar reputations will materially add to our partnership.”

“It wasn’t like we woke up one day and said let’s change firms,” Miner said, “We looked at all of our options and weighed each one carefully, considering which would be best for our clients. In the end, independence had so many advantages over traditional firms that it became the obvious route.  What wasn’t so obvious was which independent firm to choose.”

“We felt that culture was the driver at Steward.  We also liked the idea of partnership and equity ownership,” said Hamilton, “Ultimately, we believe that our clients will be happier at Steward.”

“We also took comfort in the relationship Steward has with Raymond James,” Miner added, “The platform is very sophisticated and offers all the products and services that individual investors require.”

Mike Maurer, CEO of parent company, Steward Partners Holdings said, “Connie is one of the area’s most respected advisors, period. We feel she will also be a leader at the firm, and a mentor for other female advisors looking to make a change.”