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

Raymond James (NYSE:RJFGet Rating) announced 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. Raymond James had a net margin of 13.35% and a return on equity of 17.68%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the previous year, the company posted $2.12 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis.

Raymond James Stock Up 0.9 %

RJF stock traded up $1.11 during midday trading on Wednesday, reaching $118.11. The company had a trading volume of 1,125,393 shares, compared to its average volume of 1,528,292. The company has a market capitalization of $25.53 billion, a P/E ratio of 16.66 and a beta of 1.06. Raymond James has a 1 year low of $84.86 and a 1 year high of $126.00. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $112.97 and a two-hundred day moving average of $108.01.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd were issued a dividend of $0.42 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.42%. Raymond James’s payout ratio is currently 24.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RJF. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $120.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, January 12th. Credit Suisse Group lowered their price objective on shares of Raymond James to $118.00 in a research report on Friday, November 4th. UBS Group lowered their price objective on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research report on Monday, January 9th. The Goldman Sachs Group lowered their price objective on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, January 4th. Finally, Citigroup initiated coverage on shares of Raymond James in a research report on Tuesday, October 11th. They issued a “neutral” rating and a $117.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $123.14.

Insider Activity at Raymond James

In related news, insider George Catanese sold 3,489 shares of Raymond James stock in a transaction 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 transaction, the insider now owns 11,862 shares in the company, valued at approximately $1,352,505.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider George Catanese sold 3,489 shares of Raymond James stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $114.02, for a total transaction of $397,815.78. Following the sale, the insider now directly owns 11,862 shares in the company, valued at approximately $1,352,505.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul C. Reilly sold 24,016 shares of Raymond James stock in a transaction dated 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 sale, the chief executive officer now owns 267,499 shares in the company, valued at $29,764,613.73. The disclosure for this sale can be found here. 9.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Toroso Investments LLC boosted its holdings in shares of Raymond James by 19.8% in the third quarter. Toroso Investments LLC now owns 3,382 shares of the financial services provider’s stock valued at $334,000 after buying an additional 558 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Raymond James in the third quarter valued at about $1,763,000. Captrust Financial Advisors grew its stake in Raymond James by 6.7% during the third quarter. Captrust Financial Advisors now owns 56,377 shares of the financial services provider’s stock worth $5,571,000 after buying an additional 3,533 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Raymond James by 4.8% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,962 shares of the financial services provider’s stock valued at $688,000 after purchasing an additional 320 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its stake in shares of Raymond James by 5.4% in the 3rd quarter. Kentucky Retirement Systems now owns 15,205 shares of the financial services provider’s stock valued at $1,503,000 after purchasing an additional 777 shares in the last quarter. Institutional investors and hedge funds 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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