Raymond James Financial (NYSE:RJF) Announces Quarterly Earnings Results

Raymond James Financial (NYSE:RJF) posted its earnings results on Wednesday. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.19), FiscalAI reports. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion.

Raymond James Financial Price Performance

Shares of NYSE:RJF traded down $0.40 during trading on Wednesday, reaching $154.14. The company had a trading volume of 2,167,192 shares, compared to its average volume of 1,393,104. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial has a 12 month low of $131.85 and a 12 month high of $177.66. The company has a fifty day moving average of $150.15 and a two-hundred day moving average of $158.77. The stock has a market capitalization of $30.38 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in shares of Raymond James Financial by 18.3% during 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 purchasing an additional 474,477 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Raymond James Financial by 12.2% during the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock valued at $375,543,000 after purchasing an additional 254,773 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Raymond James Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,097,112 shares of the financial services provider’s stock valued at $176,185,000 after purchasing an additional 8,575 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Raymond James Financial by 40.0% during the 4th quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock valued at $176,124,000 after purchasing an additional 313,587 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Raymond James Financial by 1.6% during the 2nd quarter. Raymond James Financial Inc. now owns 765,574 shares of the financial services provider’s stock valued at $117,416,000 after purchasing an additional 12,328 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Raymond James Financial from $196.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Jefferies Financial Group decreased their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Morgan Stanley decreased their price target on shares of Raymond James Financial from $187.00 to $171.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. Finally, Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $175.58.

About Raymond James Financial

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.