Sequoia Financial Advisors LLC Acquires 587 Shares of Raymond James (NYSE:RJF)

Sequoia Financial Advisors LLC increased its holdings in shares of Raymond James (NYSE:RJF) by 24.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,969 shares of the financial services provider’s stock after purchasing an additional 587 shares during the period. Sequoia Financial Advisors LLC’s holdings in Raymond James were worth $461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Y.D. More Investments Ltd lifted its stake in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd raised its holdings in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the period. Quarry LP lifted its position in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares in the last quarter. Eastern Bank bought a new position in Raymond James during the 4th quarter worth about $68,000. Finally, Assetmark Inc. raised its stake in shares of Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 138 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Bank of America upped their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Morgan Stanley boosted their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Performance

RJF opened at $143.50 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The business has a 50 day moving average of $157.63 and a 200-day moving average of $149.21. The stock has a market cap of $29.40 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, equities research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Raymond James Profile

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.