Sequoia Financial Advisors LLC Purchases 2,520 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Sequoia Financial Advisors LLC increased its stake in Raymond James Financial, Inc. by 78.0%, acquiring an additional 2,520 shares during the second quarter, bringing their total holdings to 5,750 shares valued at $882,000.
• Raymond James Financial reported a quarterly earnings of $2.18 per share, missing estimates by $0.18, while revenue increased by 5.3% year-over-year to $3.40 billion.
• The company declared a quarterly dividend of $0.50 per share with an annual yield of 1.2%, reflecting a dividend payout ratio of 19.61%.

Sequoia Financial Advisors LLC lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 78.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,750 shares of the financial services provider's stock after acquiring an additional 2,520 shares during the period. Sequoia Financial Advisors LLC's holdings in Raymond James Financial were worth $882,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in Raymond James Financial in the first quarter valued at $27,000. Golden State Wealth Management LLC grew its position in Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in Raymond James Financial in the first quarter valued at $33,000. TCTC Holdings LLC lifted its stake in Raymond James Financial by 72.9% in the first 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 lifted its stake in Raymond James Financial by 364.3% in the first 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. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

RJF opened at $161.50 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. The company's fifty day moving average price is $167.39 and its two-hundred day moving average price is $155.21. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The company has a market cap of $32.20 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.23 and a beta of 1.03.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company posted $2.39 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Analyst Ratings Changes

RJF has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $172.00 to $178.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Raymond James Financial in a report on Wednesday, October 8th. BMO Capital Markets started coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They set a "market perform" rating and a $180.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. 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 stock. According to MarketBeat.com, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $172.20.

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.

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