Raymond James Financial (NYSE:RJF) Releases Earnings Results, Misses Estimates By $0.18 EPS

Raymond James Financial (NYSE:RJF - Get Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18), Zacks reports. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the business earned $2.39 EPS. The company's revenue was up 5.3% compared to the same quarter last year.

Raymond James Financial Stock Up 0.9%

Raymond James Financial stock traded up $1.57 during trading hours on Friday, hitting $168.41. 579,434 shares of the stock traded hands, compared to its average volume of 1,364,479. The firm's 50-day moving average price is $152.34 and its two-hundred day moving average price is $150.04. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The company has a market cap of $33.98 billion, a PE ratio of 16.51, a PEG ratio of 1.33 and a beta of 1.02. Raymond James Financial has a one year low of $104.24 and a one year high of $174.32.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Raymond James Financial's payout ratio is presently 19.25%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RJF. JMP Securities boosted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods boosted their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday. Morgan Stanley boosted their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $163.80.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider directly owned 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James Financial

An institutional investor recently raised its position in Raymond James Financial stock. Empowered Funds LLC raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,142 shares of the financial services provider's stock after buying an additional 314 shares during the period. Empowered Funds LLC's holdings in Raymond James Financial were worth $573,000 at the end of the most recent reporting period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial 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.