Key Points
- Insider sale: Executive Paul Reilly sold 130,687 shares on Dec. 15 at an average of $163.15 for a total of $21,321,584.05, cutting his stake by 33.4% to 260,546 shares (valued ~ $42.51M).
- Dividend increase: Raymond James raised its quarterly dividend to $0.54 (from $0.50), payable Jan. 16 with an ex-dividend date of Jan. 2, implying a $2.16 annualized payout and a 1.3% yield.
- Strong quarterly results but cautious street view: The company beat estimates with Q earnings of $3.11 EPS (vs. $2.83) and $3.73B revenue, yet analysts' consensus is a "Hold" with a $180.45 price target.
Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) insider Paul Reilly sold 130,687 shares of the business's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares of the company's stock, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Raymond James Financial Stock Down 0.6%
Raymond James Financial stock opened at $162.84 on Tuesday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The stock has a fifty day moving average of $160.50 and a 200 day moving average of $161.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a market cap of $32.03 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99.
Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.83 by $0.28. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 earnings per share. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.
Raymond James Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.54 dividend. The ex-dividend date is Friday, January 2nd. This is an increase from Raymond James Financial's previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial's dividend payout ratio (DPR) is currently 20.99%.
Wall Street Analyst Weigh In
RJF has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 1st. TD Cowen raised their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a "hold" rating in a report on Thursday, October 23rd. JMP Securities boosted their price objective on Raymond James Financial from $185.00 to $190.00 and gave the company a "market outperform" rating in a research report on Thursday, October 23rd. Bank of America upped their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 10th. Finally, Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $180.45.
Get Our Latest Stock Report on RJF
Institutional Investors Weigh In On Raymond James Financial
Several large investors have recently made changes to their positions in RJF. West Branch Capital LLC bought a new position in Raymond James Financial during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Raymond James Financial during the 3rd quarter worth approximately $31,000. Quent Capital LLC bought a new position in shares of Raymond James Financial during the 3rd quarter valued at approximately $33,000. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the third quarter valued at $33,000. Finally, Princeton Global Asset Management LLC increased its position in Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider's stock worth $38,000 after purchasing an additional 100 shares during the last quarter. 83.83% of the stock is owned by institutional investors.
About Raymond James Financial
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
