Teacher Retirement System of Texas increased its stake in Raymond James (NYSE:RJF - Free Report) by 630.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,545 shares of the financial services provider's stock after buying an additional 178,259 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of Raymond James worth $32,083,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC lifted its holdings in shares of Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its position in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after buying an additional 217 shares during the period. Quarry LP grew its stake in shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Raymond James in the fourth quarter worth approximately $68,000. 83.83% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. UBS Group upgraded shares of Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Citigroup boosted their price target on Raymond James from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Keefe, Bruyette & Woods raised their price objective on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Finally, JMP Securities upped their target price on Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $167.55.
Read Our Latest Research Report on RJF
Raymond James Stock Up 0.5 %
Shares of RJF traded up $0.77 during midday trading on Tuesday, hitting $145.73. 988,478 shares of the company's stock traded hands, compared to its average volume of 1,172,648. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $29.86 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm's fifty day moving average is $156.57 and its 200-day moving average is $149.91.
Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.
Raymond James Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's dividend payout ratio is presently 19.51%.
Raymond James Company Profile
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Free Report)
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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