Sequoia Financial Advisors LLC Acquires New Shares in Raymond James (NYSE:RJF)

Sequoia Financial Advisors LLC bought a new position in Raymond James (NYSE:RJF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,942 shares of the financial services provider’s stock, valued at approximately $328,000.

A number of other hedge funds have also bought and sold shares of RJF. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Raymond James in the fourth quarter worth approximately $30,000. Allspring Global Investments Holdings LLC raised its stake in Raymond James by 20.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 150,146 shares of the financial services provider’s stock valued at $16,741,000 after buying an additional 25,768 shares during the last quarter. Confluence Wealth Services Inc. bought a new position in shares of Raymond James during the 4th quarter valued at $240,000. International Assets Investment Management LLC boosted its stake in shares of Raymond James by 4,941.7% in the 4th quarter. International Assets Investment Management LLC now owns 5,798 shares of the financial services provider’s stock worth $646,000 after buying an additional 5,683 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Raymond James by 9.2% in the fourth quarter. Bleakley Financial Group LLC now owns 2,560 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Raymond James news, Director Art A. Garcia acquired 879 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Raymond James Trading Up 0.0 %

Shares of Raymond James stock opened at $121.96 on Friday. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The company has a market capitalization of $25.49 billion, a P/E ratio of 15.28, a P/E/G ratio of 0.86 and a beta of 1.05. The company has a fifty day moving average of $122.16 and a 200 day moving average of $111.40.

Raymond James (NYSE:RJF) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is presently 22.56%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RJF shares. UBS Group lowered their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. The Goldman Sachs Group restated a “neutral” rating and set a $116.00 target price (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.88.

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.