Raymond James (NYSE:RJF) Announces Earnings Results

Raymond James (NYSE:RJF) posted its quarterly earnings data on Wednesday. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate 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 Stock Up 0.4 %

Shares of RJF stock traded up $0.62 on Wednesday, hitting $172.13. The company’s stock had a trading volume of 1,505,664 shares, compared to its average volume of 1,244,004. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $35.18 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.04 and a beta of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm’s fifty day moving average price is $161.96 and its 200-day moving average price is $139.17.

Raymond James Increases Dividend

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

Wall Street Analyst Weigh In

RJF has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley upped their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $166.00 price objective (up from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. Nine equities 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $156.09.

Insider Buying and Selling at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the company’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 sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 0.54% 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.