Raymond James (NYSE:RJF) Issues Earnings Results

Raymond James (NYSE:RJF) released its earnings results on Wednesday. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54, Briefing.com reports. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Raymond James Stock Performance

Shares of Raymond James stock traded down $2.49 during trading hours on Friday, reaching $144.91. 1,496,923 shares of the stock traded hands, compared to its average volume of 1,141,832. The company has a 50 day moving average price of $123.66 and a 200 day moving average price of $121.26. Raymond James has a one year low of $93.91 and a one year high of $148.68. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $30.04 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.95 and a beta of 1.02.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.24%. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday. JMP Securities increased their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday. UBS Group decreased their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. TD Cowen upped their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and four 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 $137.36.

About Raymond James

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.