Raymond James (NYSE:RJF) Releases Earnings Results

Raymond James (NYSE:RJF) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08, Zacks reports. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company earned $1.85 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis.

Raymond James Trading Up 5.2 %

Shares of NYSE RJF traded up $5.79 during midday trading on Thursday, hitting $118.01. The stock had a trading volume of 2,281,922 shares, compared to its average volume of 1,123,724. The company’s 50-day simple moving average is $119.69 and its 200 day simple moving average is $119.89. The firm has a market cap of $24.46 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.70 and a beta of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.45 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Insider Transactions at Raymond James

In other news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now 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.

Analysts Set New Price Targets

A number of brokerages have commented on RJF. UBS Group reduced their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Citigroup increased their target price on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. dropped their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley increased their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $129.89.

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.