Raymond James (NYSE:RJF) Releases Earnings Results, Beats Expectations By $0.01 EPS

Raymond James (NYSE:RJFGet Rating) issued its earnings results on Wednesday. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01, RTT News reports. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Raymond James had a net margin of 13.35% and a return on equity of 17.68%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 earnings per share.

Raymond James Trading Up 0.9 %

RJF stock traded up $1.11 during mid-day trading on Wednesday, hitting $118.11. 1,125,393 shares of the company were exchanged, compared to its average volume of 1,528,292. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $25.53 billion, a P/E ratio of 16.66 and a beta of 1.06. The business has a fifty day simple moving average of $112.97 and a 200-day simple moving average of $108.01. Raymond James has a 12-month low of $84.86 and a 12-month high of $126.00.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, December 30th. This is a positive change from Raymond James’s previous quarterly dividend of $0.34. Raymond James’s dividend payout ratio (DPR) is 24.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RJF shares. Credit Suisse Group cut their price objective on shares of Raymond James to $118.00 in a research report on Friday, November 4th. The Goldman Sachs Group cut their price objective on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. Keefe, Bruyette & Woods raised their price objective on shares of Raymond James from $120.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, January 12th. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 31st. Finally, UBS Group cut their price objective on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $123.14.

Insiders Place Their Bets

In other news, CEO Paul C. Reilly sold 24,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $111.27, for a total value of $2,672,260.32. Following the completion of the transaction, the chief executive officer now owns 267,499 shares of the company’s stock, valued at $29,764,613.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider George Catanese sold 3,489 shares of the firm’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $114.02, for a total value of $397,815.78. Following the completion of the transaction, the insider now owns 11,862 shares of the company’s stock, valued at $1,352,505.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 24,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the completion of the transaction, the chief executive officer now directly owns 267,499 shares of the company’s stock, valued at approximately $29,764,613.73. The disclosure for this sale can be found here. 9.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its holdings in Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 138 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Raymond James in the second quarter valued at approximately $49,000. Brown Brothers Harriman & Co. raised its holdings in Raymond James by 5,415.8% in the first quarter. Brown Brothers Harriman & Co. now owns 1,048 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 1,029 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Raymond James by 101.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,495 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 753 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in Raymond James in the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

About Raymond James

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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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Earnings History for Raymond James (NYSE:RJF)

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