Stratos Wealth Advisors LLC Sells 132 Shares of Raymond James Financial, Inc. $RJF

Stratos Wealth Advisors LLC reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 7.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,726 shares of the financial services provider’s stock after selling 132 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Raymond James Financial were worth $265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial during the 1st quarter valued at approximately $33,000. TCTC Holdings LLC boosted its position in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 121 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Raymond James Financial by 364.3% during the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 255 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RJF shares. Wells Fargo & Company increased their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Morgan Stanley increased their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Finally, JMP Securities increased their price target on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average price target of $172.20.

Raymond James Financial Stock Performance

RJF stock opened at $164.88 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $167.38 and its two-hundred day simple moving average is $155.68. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $177.66. The firm has a market cap of $32.87 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.23 and a beta of 1.03.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business earned $2.39 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

Raymond James Financial Company 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.