Raymond James (NYSE:RJF) Declares $0.45 Quarterly Dividend

by · The Markets Daily

Raymond James (NYSE:RJF – Get Free Report) declared a quarterly dividend on Monday, May 20th, Zacks reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.45 per share by the financial services provider on Monday, July 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, July 1st.

Raymond James has raised its dividend by an average of 32.2% annually over the last three years. Raymond James has a payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Raymond James to earn $10.19 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 17.7%.

Raymond James Trading Up 1.7 %

Shares of RJF stock opened at $123.61 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $122.67 and a 200 day simple moving average of $119.20. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The stock has a market capitalization of $25.62 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.84 and a beta of 1.01.

Raymond James (NYSE:RJF – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm earned $2.03 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Raymond James will post 9.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RJF shares. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Morgan Stanley boosted their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen decreased their target price on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Finally, Citigroup boosted their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $126.22.

Get Our Latest Report on Raymond James

Insider Activity at Raymond James

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

Raymond James Company Profile

(Get Free Report)

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.

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