Sequoia Financial Advisors LLC Decreases Holdings in Raymond James (NYSE:RJF)

Sequoia Financial Advisors LLC reduced its stake in shares of Raymond James (NYSE:RJF) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,382 shares of the financial services provider’s stock after selling 114 shares during the period. Sequoia Financial Advisors LLC’s holdings in Raymond James were worth $292,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Concurrent Investment Advisors LLC increased its holdings in shares of Raymond James by 36.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 2,328 shares during the last quarter. Norden Group LLC boosted its position in Raymond James by 3,257.7% in the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Raymond James by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock valued at $28,937,000 after buying an additional 11,427 shares during the last quarter. Bessemer Group Inc. boosted its position in Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after buying an additional 17,499 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Raymond James by 44.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock valued at $2,260,000 after buying an additional 5,427 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Price Performance

RJF opened at $148.16 on Tuesday. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. Raymond James has a fifty-two week low of $93.91 and a fifty-two week high of $148.68. The company’s 50-day moving average price is $124.88 and its 200 day moving average price is $121.44. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the business earned $2.13 earnings per share. Raymond James’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Raymond James will post 10.32 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. Raymond James’s payout ratio is currently 18.54%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RJF. TD Cowen upped their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group reduced their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company increased their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America increased their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $137.36.

Insider Buying and Selling at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Raymond James 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.