Raymond James (NYSE:RJF) Issues Quarterly Earnings Results

Raymond James (NYSE:RJF) released its quarterly earnings data on Wednesday. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31, Zacks reports. Raymond James had a net margin of 13.86% and a return on equity of 19.30%.

Raymond James Price Performance

RJF traded up $0.62 on Wednesday, hitting $172.13. 1,502,874 shares of the company were exchanged, compared to its average volume of 1,244,004. The business’s fifty day moving average is $161.96 and its 200 day moving average is $139.17. The firm has a market capitalization of $35.18 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. Raymond James’s dividend payout ratio (DPR) is 20.60%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Cowen lifted their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $166.00 price target (up previously from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group raised their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $156.09.

Insider Buying and Selling

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last quarter. Company insiders own 0.54% of the company’s stock.

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.