Raymond James Financial, Inc. (NYSE:RJF) announced a quarterly dividend on Tuesday, February 27th, Wall Street Journal reports. Shareholders of record on Monday, April 2nd will be paid a dividend of 0.25 per share by the financial services provider on Monday, April 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, March 29th.
Raymond James Financial has increased its dividend by an average of 11.2% per year over the last three years and has increased its dividend every year for the last 5 years. Raymond James Financial has a dividend payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Raymond James Financial to earn $7.60 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.2%.
Shares of Raymond James Financial (NYSE:RJF) traded down $1.43 during mid-day trading on Wednesday, reaching $95.82. 479,229 shares of the company’s stock were exchanged, compared to its average volume of 923,098. Raymond James Financial has a twelve month low of $71.35 and a twelve month high of $99.26. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.53. The company has a market cap of $14,305.22, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 0.84 and a beta of 1.61.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.19. Raymond James Financial had a net margin of 9.00% and a return on equity of 14.87%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. research analysts predict that Raymond James Financial will post 6.89 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on RJF shares. Credit Suisse Group started coverage on shares of Raymond James Financial in a research report on Thursday, November 30th. They set an “underperform” rating and a $82.00 target price for the company. Wells Fargo & Co reissued an “outperform” rating and set a $110.00 target price (up from $94.00) on shares of Raymond James Financial in a research report on Thursday, January 4th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $102.00 target price on shares of Raymond James Financial in a research report on Thursday, January 25th. Buckingham Research increased their target price on shares of Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Zacks Investment Research downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Raymond James Financial has an average rating of “Buy” and a consensus target price of $95.29.
In related news, COO Dennis W. Zank sold 20,003 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $98.63, for a total value of $1,972,895.89. Following the completion of the transaction, the chief operating officer now directly owns 150,849 shares of the company’s stock, valued at approximately $14,878,236.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul C. Reilly sold 12,681 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $87.77, for a total transaction of $1,113,011.37. Following the completion of the transaction, the chief executive officer now directly owns 106,682 shares of the company’s stock, valued at $9,363,479.14. The disclosure for this sale can be found here. Insiders have sold a total of 45,465 shares of company stock valued at $4,293,876 over the last three months. Insiders own 10.46% of the company’s stock.
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About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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