The stock of Raymond James Financial Inc. (NYSE:RJF) last traded at $106.54, down -0.75% from the previous session.
RJF stock price is now -6.35% away from the 50-day moving average and 2.50% away from the 200-day moving average. The market capitalization of the company currently stands at $22.64B.
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With the price target reduced from $130 to $120, Keefe Bruyette Downgraded its rating from Outperform to Mkt Perform for Raymond James Financial Inc. (NYSE: RJF). On November 22, 2022, UBS recently initiated its ‘Neutral’ rating on the stock quoting a target price of $127, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, Raney Steven M, President & CEO RJBank sold 5,577 shares of the company’s stock on Dec 15. The stock was sold for $599,972 at an average price of $107.58. Upon completion of the transaction, the President & CEO RJBank now directly owns 56,537 shares in the company, valued at $6.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 14, Chair & CEO REILLY PAUL C sold 24,016 shares of the business’s stock. A total of $2,672,330 was realized by selling the stock at an average price of $111.27. This leaves the insider owning 267,499 shares of the company worth $28.5 million. Insiders disposed of 765,984 shares of company stock worth roughly $81.61 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RJF stock. A new stake in Raymond James Financial Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $215,178,000. MEAG MUNICH ERGO, KAPITALANLAGEGESELLSCHAFT MBH invested $23,476,000 in shares of RJF during the first quarter. In the first quarter, AZORA CAPITAL LP acquired a new stake in Raymond James Financial Inc. valued at approximately $7,728,000. CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in RJF for approximately $5,550,000. POINT72 ASSET MANAGEMENT, L.P. purchased a new stake in RJF valued at around $5,401,000 in the second quarter. In total, there are 951 active investors with 77.50% ownership of the company’s stock.
With an opening price of $107.61 on Tuesday morning, Raymond James Financial Inc. (NYSE: RJF) set off the trading day. During the past 12 months, Raymond James Financial Inc. has had a low of $84.86 and a high of $126.00. The fifty day moving average price for RJF is $113.77 and a two-hundred day moving average price translates $103.94 for the stock.
The latest earnings results from Raymond James Financial Inc. (NYSE: RJF) was released for Sep, 2022. According to the Capital Markets Company, earnings per share came in at $2.08, beating analysts’ expectations of $2 by 0.08. This compares to $2.02 EPS in the same period last year. The net profit margin was 13.30% and return on equity was 16.70% for RJF. The company reported revenue of $2.83 billion for the quarter, compared to $2.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.05 percent. For the current quarter, analysts expect RJF to generate $2.85B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/17/2023. Investors who held shares on 01/03/2023 were paid a $0.42 dividend. On an annualized basis, this represents a $1.68 dividend and a 1.58% percent yield. There was an ex-dividend date of 12/30/2022 for this dividend. In terms of dividend payout ratio, RJF is presently at 17.90%.
Raymond James Financial Inc.(RJF) Company Profile
Raymond James Financial, Inc., a diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe. The Private Client Group segment offers investment services, portfolio management services, insurance and annuity products, and mutual funds; support to third-party product partners, including sales and marketing support, as well as distribution and accounting, and administrative services; margin loans; and securities borrowing and lending services. The Capital Markets segment provides investment banking services, including equity underwriting, debt underwriting, and merger and acquisition advisory services; and fixed income and equity brokerage services. The Asset Management segment offers asset management, portfolio management, and related administrative services to retail and institutional clients; and administrative support services, such as record-keeping. The Raymond James Bank segment provides insured deposit accounts; commercial and industrial, commercial real estate (CRE) and CRE construction, tax-exempt, residential, securities-based, and other loans; and loan syndication services. The Other segment engages in the private equity investments, including various direct and third-party private equity investments; and legacy private equity funds. The company was founded in 1962 and is headquartered in St. Petersburg, Florida.
