Raymond James Financial, Inc. (NYSE:RJF) Plans $0.54 Quarterly Dividend

Raymond James Financial, Inc. (NYSE:RJF) declared a quarterly dividend on Thursday, February 19th. Investors of record on Wednesday, April 1st will be paid a dividend of 0.54 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 1st.

Raymond James Financial has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 3 years. Raymond James Financial has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Raymond James Financial to earn $12.04 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 17.9%.

Raymond James Financial Stock Down 1.3%

NYSE:RJF traded down $2.13 during mid-day trading on Friday, hitting $155.90. 579,661 shares of the company’s stock were exchanged, compared to its average volume of 1,429,514. The company has a market cap of $30.73 billion, a PE ratio of 15.23, a P/E/G ratio of 1.20 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 has a one year low of $117.57 and a one year high of $177.66. The business has a fifty day moving average price of $165.64 and a 200 day moving average price of $164.69.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Insider Activity

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Raymond James Financial

Hedge funds have recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. lifted its holdings in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 61 shares during the period. Meridian Wealth Advisors LLC grew its stake in shares of Raymond James Financial by 0.6% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after purchasing an additional 62 shares during the period. Waterloo Capital L.P. increased its position in shares of Raymond James Financial by 2.0% during the 2nd quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 64 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Raymond James Financial by 0.6% in the 3rd quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 64 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in shares of Raymond James Financial by 2.0% in the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock worth $563,000 after buying an additional 65 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.