Sax Wealth Advisors LLC Purchases New Shares in Raymond James Financial, Inc. $RJF

Sax Wealth Advisors LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,345 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC increased its stake in Raymond James Financial by 0.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock worth $1,170,000 after buying an additional 68 shares during the period. Venturi Wealth Management LLC increased its stake in Raymond James Financial by 2.2% during the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after buying an additional 73 shares during the period. EP Wealth Advisors LLC increased its stake in Raymond James Financial by 5.5% during the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after buying an additional 78 shares during the period. Cigna Investments Inc. New increased its stake in Raymond James Financial by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock worth $284,000 after buying an additional 81 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Raymond James Financial by 9.0% during the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock worth $137,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RJF shares. BMO Capital Markets assumed coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $180.00 target price on the stock. Morgan Stanley lifted their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their price objective 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $172.20.

Raymond James Financial Stock Performance

Shares of RJF opened at $163.88 on Friday. The stock has a 50 day moving average price of $167.84 and a 200 day moving average price of $154.30. 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 company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66.

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

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is 19.61%.

About Raymond James Financial

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.