Seaport Res Ptn Analysts Reduce Earnings Estimates for Raymond James (NYSE:RJF)

Raymond James (NYSE:RJF - Free Report) - Seaport Res Ptn reduced their FY2024 EPS estimates for Raymond James in a research note issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings per share of $9.53 for the year, down from their prior estimate of $9.55. The consensus estimate for Raymond James' current full-year earnings is $9.58 per share. Seaport Res Ptn also issued estimates for Raymond James' Q1 2025 earnings at $2.65 EPS and Q3 2025 earnings at $2.42 EPS.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS.

RJF has been the subject of a number of other reports. Wolfe Research reissued a "peer perform" rating on shares of Raymond James in a research note on Monday, July 8th. Wells Fargo & Company began coverage on shares of Raymond James in a research note on Thursday, September 12th. They issued an "overweight" rating and a $138.00 target price on the stock. UBS Group decreased their price target on shares of Raymond James from $138.00 to $135.00 and set a "neutral" rating for the company in a research note on Tuesday, July 9th. TD Cowen increased their price objective on Raymond James from $130.00 to $133.00 and gave the stock a "hold" rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their target price on Raymond James from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Raymond James presently has an average rating of "Hold" and an average price target of $131.90.

Raymond James Trading Down 1.4 %

RJF stock traded down $1.75 during mid-day trading on Monday, reaching $125.38. 620,232 shares of the stock traded hands, compared to its average volume of 1,107,649. Raymond James has a one year low of $91.67 and a one year high of $131.19. The stock has a market capitalization of $25.99 billion, a PE ratio of 15.16, a PEG ratio of 0.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The business has a 50-day moving average price of $117.67 and a two-hundred day moving average price of $120.57.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently added to or reduced their stakes in RJF. GAMMA Investing LLC grew its position in Raymond James by 11.4% during the third quarter. GAMMA Investing LLC now owns 1,495 shares of the financial services provider's stock worth $183,000 after buying an additional 153 shares during the period. Czech National Bank increased its stake in Raymond James by 6.2% in the 3rd quarter. Czech National Bank now owns 37,757 shares of the financial services provider's stock valued at $4,624,000 after purchasing an additional 2,208 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Raymond James by 5.9% during the third quarter. Handelsbanken Fonder AB now owns 59,620 shares of the financial services provider's stock worth $7,301,000 after purchasing an additional 3,324 shares during the last quarter. Trust Co. of Toledo NA OH boosted its position in Raymond James by 2.5% during the third quarter. Trust Co. of Toledo NA OH now owns 8,165 shares of the financial services provider's stock worth $1,000,000 after purchasing an additional 199 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Raymond James by 109.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider's stock valued at $13,778,000 after purchasing an additional 58,200 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Insider Buying and Selling at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares of the company's stock, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company's stock, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.44%. Raymond James's dividend payout ratio (DPR) is 21.77%.

About Raymond James

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.