Raymond James (RJF) to Issue Quarterly Dividend of $0.45 on July 15th

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

Raymond James has raised its dividend payment by an average of 32.2% per year over the last three years. Raymond James has a dividend payout ratio of 17.8% indicating that 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 Up 1.7 %

RJF stock opened at $123.60 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.83 and a beta of 1.01. The business’s fifty day moving average price is $122.67 and its two-hundred day moving average price is $119.14. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19.

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

Insider Activity

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

Analyst Ratings Changes

A number of research analysts recently commented on RJF shares. TD Cowen decreased their price target on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Citigroup lifted their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Finally, Morgan Stanley lifted their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.22.

About Raymond James

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.