Raymond James (NYSE:RJF – Get Free Report) was down 6.9% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $118.27 and last traded at $118.78. 612,670 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,046,834 shares. The stock had previously closed at $127.54.
The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. Raymond James’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 EPS.
Raymond James Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.48%. Raymond James’s dividend payout ratio (DPR) is 21.77%.
Analysts Set New Price Targets
Get Our Latest Stock Report on RJF
Insider Activity at Raymond James
In other news, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Raymond James in the 1st quarter valued at approximately $33,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James in the 4th quarter valued at about $30,000. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James during the fourth quarter worth approximately $33,000. Addison Advisors LLC increased its holdings in Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in Raymond James in the fourth quarter valued at approximately $50,000. 83.83% of the stock is currently owned by institutional investors.
Raymond James Price Performance
The business has a fifty day simple moving average of $123.10 and a 200-day simple moving average of $112.50. The stock has a market capitalization of $25.47 billion, a P/E ratio of 14.74, a PEG ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99.
Raymond James Company Profile
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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