Raymond James (NYSE:RJF) to Issue Quarterly Dividend of $0.50

by · The Markets Daily

Raymond James (NYSE:RJF – Get Free Report) declared a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.50 per share by the financial services provider on Tuesday, April 15th. This represents a $2.00 annualized dividend and a yield of 1.32%.

Raymond James has raised its dividend payment by an average of 18.2% per year over the last three years. Raymond James has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raymond James to earn $12.04 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 16.6%.

Raymond James Price Performance

NYSE RJF traded down $3.73 on Friday, hitting $151.34. 1,668,672 shares of the company were exchanged, compared to its average volume of 1,430,080. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a market cap of $31.01 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.90 and a beta of 1.03. The firm has a 50 day moving average of $161.30 and a two-hundred day moving average of $145.05.

Raymond James (NYSE:RJF – Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, equities analysts predict that Raymond James will post 11.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RJF shares. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley upped their price target 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, JMP Securities upped their price target on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Raymond James presently has an average rating of “Hold” and a consensus price target of $166.09.

Check Out Our Latest Analysis on Raymond James

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 in the last quarter. 0.54% of the stock is currently owned by insiders.

About Raymond James

(Get Free Report)

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.

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