Raymond James Financial said on February 24, 2023 that its board of directors declared a regular quarterly dividend of $0.42 per share ($1.68 annualized). Shareholders of record as of April 3, 2023 will receive the payment on April 17, 2023. Previously, the company paid $0.34 per share.
At the current share price of $108.46 / share, the stock's dividend yield is 1.55%. Looking back five years and taking a sample every week, the average dividend yield has been 1.50%, the lowest has been 0.78%, and the highest has been 2.69%. The standard deviation of yields is 0.33 (n=236).
The current dividend yield is 0.14 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.23. 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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Analyst Price Forecast Suggests 20.17% Upside
As of March 1, 2023, the average one-year price target for Raymond James Financial is $130.33. The forecasts range from a low of $117.16 to a high of $142.80. The average price target represents an increase of 20.17% from its latest reported closing price of $108.46.
The projected annual revenue for Raymond James Financial is $12,064MM, an increase of 11.90%. The projected annual EPS is $9.65, an increase of 30.85%.
What is the Fund Sentiment?
There are 1518 funds or institutions reporting positions in Raymond James Financial. This is an increase of 70 owner(s) or 4.83% in the last quarter. Average portfolio weight of all funds dedicated to RJF is 0.32%, an increase of 7.66%. Total shares owned by institutions increased in the last three months by 1.46% to 186,951K shares. The put/call ratio of RJF is 0.37, indicating a bullish outlook.
What are large shareholders doing?
Primecap Management holds 13,060K shares representing 6.06% ownership of the company. In it's prior filing, the firm reported owning 13,539K shares, representing a decrease of 3.67%. The firm decreased its portfolio allocation in RJF by 1.32% over the last quarter.
Wellington Management Group Llp holds 9,565K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 9,826K shares, representing a decrease of 2.74%. The firm decreased its portfolio allocation in RJF by 99.99% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,794K shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 5,741K shares, representing an increase of 0.92%. The firm increased its portfolio allocation in RJF by 16.28% over the last quarter.
Jpmorgan Chase & holds 5,428K shares representing 2.52% ownership of the company. No change in the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 4,474K shares representing 2.08% ownership of the company. In it's prior filing, the firm reported owning 4,489K shares, representing a decrease of 0.33%. The firm increased its portfolio allocation in RJF by 15.18% 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
