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

Raymond James (NYSE:RJF) declared a quarterly dividend on Wednesday, August 21st, Zacks reports. Stockholders of record on Tuesday, October 1st will be paid a dividend of 0.45 per share by the financial services provider on Tuesday, October 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, October 1st.

Raymond James has increased its dividend payment by an average of 32.2% annually over the last three years. Raymond James has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.0 %

Shares of NYSE RJF opened at $122.46 on Monday. The stock has a market capitalization of $25.22 billion, a P/E ratio of 14.81, a PEG ratio of 0.84 and a beta of 1.02. Raymond James has a one year low of $91.67 and a one year high of $131.19. The firm’s 50 day simple moving average is $116.43 and its two-hundred day simple moving average is $120.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. As a group, analysts expect that Raymond James will post 9.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. TD Cowen upped their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group raised their price target on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $131.60.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

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.