Raymond James (NYSE:RJF) Plans $0.45 Quarterly Dividend

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

Raymond James has raised its dividend payment by an average of 32.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Raymond James has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

RJF stock traded down $1.26 during midday trading on Wednesday, reaching $123.53. The company had a trading volume of 154,284 shares, compared to its average volume of 1,026,013. The company has a 50 day moving average of $125.00 and a two-hundred day moving average of $116.00. The company has a market capitalization of $25.61 billion, a P/E ratio of 15.09, a PEG ratio of 0.85 and a beta of 1.03. Raymond James has a 1 year low of $88.81 and a 1 year high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. Raymond James’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 earnings per share. On average, equities research analysts expect that Raymond James will post 9.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Raymond James

In related news, insider James E. Bunn sold 11,095 shares of Raymond James 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 sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 directly owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JMP Securities reissued 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 shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Citigroup lifted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lowered their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Finally, TD Cowen lowered their price target on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.22.

About Raymond James

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.