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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of RJF. Y.D. More Investments Ltd increased its position in shares of 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 worth $36,000 after purchasing an additional 127 shares during the period. Plato Investment Management Ltd boosted its position in shares of Raymond James by 1,142.1% during the 4th 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 in the last quarter. Quarry LP increased its stake in Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the last quarter. Eastern Bank acquired a new position in Raymond James during the fourth quarter valued at approximately $68,000. Finally, Assetmark Inc. lifted its stake in Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Down 0.7 %

Shares of RJF stock opened at $143.50 on Wednesday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. 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. The stock has a 50-day moving average of $157.63 and a 200-day moving average of $149.21.

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

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research analyst reports. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup increased their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, JMP Securities upped their price target on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $167.55.

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.