Raymond James Financial, Inc. (NYSE:RJF) declared a quarterly dividend on Thursday, August 24th, Zacks reports. Investors of record on Monday, October 2nd will be paid a dividend of 0.22 per share by the financial services provider on Monday, October 16th. This represents a $0.88 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 29th.

Raymond James Financial has raised its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Raymond James Financial has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raymond James Financial to earn $5.75 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.3%.

Shares of Raymond James Financial (NYSE RJF) traded up 0.04% during trading on Friday, reaching $78.82. 163,668 shares of the company traded hands. Raymond James Financial has a 1-year low of $56.06 and a 1-year high of $85.97. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 18.74 and a beta of 1.65. The stock’s 50 day moving average is $81.65 and its 200 day moving average is $77.77.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts forecast that Raymond James Financial will post $5.07 EPS for the current year.

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Several brokerages have recently issued reports on RJF. BidaskClub cut Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Instinet restated a “buy” rating and issued a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura lifted their target price on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Buckingham Research restated a “buy” rating and issued a $94.00 target price (up from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $85.00 target price (up from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Raymond James Financial currently has an average rating of “Buy” and a consensus price target of $87.50.

In related news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the completion of the sale, the chief executive officer now owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total value of $331,320.00. Following the sale, the insider now directly owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Dividend History for Raymond James Financial (NYSE:RJF)

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