Raymond James (NYSE:RJF - Get Free Report) CEO Steven M. Raney sold 4,174 shares of the firm's stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value 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 at this link.
Raymond James Stock Up 1.1 %
Shares of NYSE RJF opened at $123.19 on Tuesday. The business's fifty day moving average price is $123.20 and its 200-day moving average price is $112.85. Raymond James has a one year low of $82.00 and a one year high of $131.19. The stock has a market capitalization of $25.75 billion, a PE ratio of 14.90, a P/E/G ratio of 0.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.
Raymond James (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned $2.03 EPS. Raymond James's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Raymond James will post 9.37 EPS for the current year.
Raymond James Announces Dividend
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The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. Raymond James's payout ratio is 21.77%.
Analyst Ratings Changes
Several brokerages have recently commented on RJF. Citigroup increased their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. StockNews.com cut shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $116.00 price target (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. raised Raymond James from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Finally, Morgan Stanley raised their target price on Raymond James from $113.00 to $123.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $126.22.
Get Our Latest Stock Report on RJF
Hedge Funds Weigh In On Raymond James
Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Raymond James during the 4th quarter worth about $238,830,000. Dimensional Fund Advisors LP increased its position in shares of Raymond James by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider's stock valued at $204,335,000 after buying an additional 263,687 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Raymond James by 2.2% in the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider's stock worth $1,161,981,000 after buying an additional 246,349 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Raymond James by 269.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider's stock valued at $25,923,000 after acquiring an additional 188,305 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Raymond James by 27.4% during the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider's stock worth $90,273,000 after acquiring an additional 174,286 shares during the period. 83.83% of the stock is owned by institutional investors.
Raymond James Company Profile
(
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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