Raymond James Declares Quarterly Dividend of $0.45 (NYSE:RJF)

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

Raymond James has increased its dividend payment by an average of 32.2% annually over the last three years and has raised its dividend every year for the last 1 years. Raymond James has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Raymond James to earn $10.22 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 17.6%.

Raymond James Stock Down 1.0 %

NYSE:RJF traded down $1.19 on Wednesday, hitting $123.60. 1,013,143 shares of the company's stock were exchanged, compared to its average volume of 1,034,931. The firm has a 50-day moving average price of $125.00 and a 200-day moving average price of $116.00. Raymond James has a 52 week low of $88.81 and a 52 week high of $131.19. 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 company has a market cap of $25.62 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.85 and a beta of 1.03.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results 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). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Raymond James's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Raymond James will post 9.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RJF. Morgan Stanley upped their price target on shares of Raymond James from $113.00 to $123.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. JMP Securities reiterated a "market perform" rating on shares of Raymond James in a research note on Tuesday, April 9th. Bank of America dropped their price target on Raymond James from $145.00 to $141.00 and set a "buy" rating for the company in a report on Thursday, April 25th. TD Cowen decreased their price objective on Raymond James from $131.00 to $126.00 and set a "hold" rating on the stock in a report on Thursday, April 25th. Finally, Citigroup lifted their target price on Raymond James from $112.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of "Hold" and an average target price of $126.22.

Insider Activity at Raymond James

In other news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of the firm's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

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.