Raymond James (RJF) To Go Ex-Dividend on July 1st

Raymond James (NYSE:RJF) announced a quarterly dividend on Monday, May 20th, Zacks reports. Shareholders 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 dividend on an annualized basis and a 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 every year for the last 1 years. Raymond James has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NYSE RJF traded down $1.26 during mid-day trading on Wednesday, reaching $123.53. The company’s stock had a trading volume of 154,284 shares, compared to its average volume of 1,026,013. The stock has a fifty day moving average of $125.00 and a two-hundred day moving average of $116.00. The firm has a market capitalization of $25.61 billion, a PE ratio of 15.09, a P/E/G ratio of 0.85 and a beta of 1.03. 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.

Raymond James (NYSE:RJF) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the business earned $2.03 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raymond James will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Raymond James

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RJF shares. Citigroup raised their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods cut their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Bank of America decreased their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Morgan Stanley lifted their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average price target of $126.22.

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.