Raymond James Financial (NYSE:RJF) Releases Earnings Results, Misses Estimates By $0.19 EPS

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

Raymond James Financial Stock Performance

Shares of RJF stock traded down $0.40 during trading on Wednesday, reaching $154.14. 2,167,192 shares of the company’s stock traded hands, compared to its average volume of 1,393,104. The company has a market capitalization of $30.38 billion, a P/E ratio of 15.08, a PEG ratio of 1.16 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $150.15 and its 200 day moving average is $158.77. Raymond James Financial has a 1 year low of $131.85 and a 1 year high of $177.66.

Raymond James Financial Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. UBS Group reduced their target price on shares of Raymond James Financial from $176.00 to $158.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Barclays reduced their target price on shares of Raymond James Financial from $196.00 to $174.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Jefferies Financial Group reduced their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $175.58.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

A number of institutional investors have recently modified their holdings of the business. Empowered Funds LLC lifted its stake in Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 314 shares in the last quarter. Woodline Partners LP lifted its stake in Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 685 shares in the last quarter. Brown Advisory Inc. lifted its stake in Raymond James Financial by 15.1% in the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Raymond James Financial in the 2nd quarter worth approximately $363,000. 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.