Raymond James Financial, Inc. (NYSE:RJF – Get Free Report) announced a quarterly dividend on Wednesday, May 13th. Shareholders of record on Wednesday, July 1st will be given a dividend of 0.54 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st.
Raymond James Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Raymond James Financial has a payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Raymond James Financial to earn $13.56 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 15.9%.
Raymond James Financial Trading Up 0.3%
Raymond James Financial stock opened at $154.00 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market cap of $30.01 billion, a PE ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 0.99. The stock’s 50 day simple moving average is $149.51 and its two-hundred day simple moving average is $157.91. Raymond James Financial has a 12 month low of $138.82 and a 12 month high of $177.66.
Insiders Place Their Bets
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial 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 sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.
Hedge Funds Weigh In On Raymond James Financial
Institutional investors and hedge funds have recently bought and sold shares of the business. Reflection Asset Management purchased a new stake in Raymond James Financial during the 4th quarter valued at about $28,000. Quent Capital LLC purchased a new position in Raymond James Financial in the 3rd quarter worth approximately $33,000. Anfield Capital Management LLC acquired a new position in shares of Raymond James Financial during the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the 4th quarter worth approximately $32,000. Finally, Harbor Investment Advisory LLC grew its position in shares of Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.
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.
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