Key Points
- Insider sale: Bella Loykhter Allaire sold 29,551 shares on March 19 at an average price of $142.34 for proceeds of about $4.21 million, trimming her stake by 35.54% to 53,586 shares valued near $7.63 million.
- Dividend declared: The company announced a quarterly dividend of $0.54 per share (ex-dividend April 1, payable April 15), equal to an annualized $2.16 and a yield of roughly 1.5%.
- Recent results and outlook: Raymond James reported Q4 EPS of $2.86 (beating estimates by $0.03) but revenue of $3.74 billion missed expectations; analysts collectively rate the stock a Hold with an average target of $182.17.
Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) insider Bella Loykhter Allaire sold 29,551 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider directly owned 53,586 shares of the company's stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Raymond James Financial Price Performance
NYSE RJF opened at $143.63 on Friday. The firm has a market capitalization of $28.31 billion, a PE ratio of 14.05, a P/E/G ratio of 1.06 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The company's 50 day simple moving average is $159.97 and its 200 day simple moving average is $162.50.
Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the company earned $2.93 earnings per share. Raymond James Financial's revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.
Raymond James Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Raymond James Financial's dividend payout ratio is currently 21.14%.
Institutional Investors Weigh In On Raymond James Financial
Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Raymond James Financial by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider's stock worth $1,009,342,000 after acquiring an additional 230,871 shares during the period. First Trust Advisors LP boosted its stake in Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider's stock valued at $493,332,000 after buying an additional 474,477 shares in the last quarter. Victory Capital Management Inc. raised its stake in Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider's stock worth $447,381,000 after acquiring an additional 21,856 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Raymond James Financial by 10.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider's stock valued at $406,941,000 after purchasing an additional 227,337 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider's stock worth $375,543,000 after purchasing an additional 254,773 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Bank of America upped their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, December 10th. TD Cowen reissued a "hold" rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a "neutral" rating in a research report on Thursday, December 11th. Finally, Morgan Stanley restated a "positive" rating on shares of Raymond James Financial in a report on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and an average target price of $182.17.
Get Our Latest Research Report on Raymond James Financial
Raymond James Financial Company Profile
(
Get Free Report)
Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.
The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.
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