Raymond James Financial said on May 24, 2023 that its board of directors declared a regular quarterly dividend of $0.42 per share ($1.68 annualized). Previously, the company paid $0.42 per share.
Shares must be purchased before the ex-div date of June 30, 2023 to qualify for the dividend. Shareholders of record as of July 3, 2023 will receive the payment on July 17, 2023.
At the current share price of $93.16 / share, the stock’s dividend yield is 1.80%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.54%, the lowest has been 0.78%, and the highest has been 2.69%. The standard deviation of yields is 0.32 (n=237).
The current dividend yield is 0.82 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.21. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.70%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1478 funds or institutions reporting positions in Raymond James Financial. This is a decrease of 32 owner(s) or 2.12% in the last quarter. Average portfolio weight of all funds dedicated to RJF is 0.27%, an increase of 6.55%. Total shares owned by institutions decreased in the last three months by 3.86% to 179,769K shares. The put/call ratio of RJF is 1.76, indicating a bearish outlook.
Analyst Price Forecast Suggests 21.17% Upside
As of May 11, 2023, the average one-year price target for Raymond James Financial is 112.88. The forecasts range from a low of 95.95 to a high of $142.80. The average price target represents an increase of 21.17% from its latest reported closing price of 93.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Raymond James Financial is 12,064MM, an increase of 9.93%. The projected annual non-GAAP EPS is 9.65.
What are Other Shareholders Doing?
Primecap Management holds 12,837K shares representing 6.06% ownership of the company. In it’s prior filing, the firm reported owning 13,060K shares, representing a decrease of 1.74%. The firm decreased its portfolio allocation in RJF by 18.28% over the last quarter.
Wellington Management Group Llp holds 9,877K shares representing 4.66% ownership of the company. In it’s prior filing, the firm reported owning 9,565K shares, representing an increase of 3.16%. The firm decreased its portfolio allocation in RJF by 87.43% over the last quarter.
Jpmorgan Chase holds 6,876K shares representing 3.24% ownership of the company. In it’s prior filing, the firm reported owning 5,428K shares, representing an increase of 21.06%. The firm decreased its portfolio allocation in RJF by 87.17% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,997K shares representing 2.83% ownership of the company. In it’s prior filing, the firm reported owning 5,878K shares, representing an increase of 1.98%. The firm decreased its portfolio allocation in RJF by 17.77% over the last quarter.
VEIPX – Vanguard Equity Income Fund Investor Shares holds 4,802K shares representing 2.27% ownership of the company. In it’s prior filing, the firm reported owning 3,320K shares, representing an increase of 30.86%. The firm increased its portfolio allocation in RJF by 27.97% over the last quarter.
Raymond James Financial Background Information
(This description is provided by the company.)
Raymond James Financial, Inc. is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $923 billion. Public since 1983, the firm is headquartered in St. Petersburg, Florida.
Key filings for this company:
This story originally appeared on Fintel.
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