TCTC Holdings LLC Acquires 106 Shares of Raymond James (NYSE:RJF)

TCTC Holdings LLC increased its holdings in shares of Raymond James (NYSE:RJF) by 176.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 166 shares of the financial services provider’s stock after purchasing an additional 106 shares during the quarter. TCTC Holdings LLC’s holdings in Raymond James were worth $26,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RJF. Victory Capital Management Inc. increased its position in Raymond James by 0.3% during the third quarter. Victory Capital Management Inc. now owns 120,822 shares of the financial services provider’s stock worth $14,796,000 after acquiring an additional 388 shares during the period. Metis Global Partners LLC increased its holdings in Raymond James by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after buying an additional 82 shares during the period. CIBC Asset Management Inc increased its holdings in Raymond James by 7.2% in the 3rd quarter. CIBC Asset Management Inc now owns 28,366 shares of the financial services provider’s stock valued at $3,474,000 after buying an additional 1,908 shares during the period. Empowered Funds LLC increased its holdings in Raymond James by 7.9% in the 3rd quarter. Empowered Funds LLC now owns 3,466 shares of the financial services provider’s stock valued at $423,000 after buying an additional 255 shares during the period. Finally, Natixis Advisors LLC increased its holdings in Raymond James by 1.4% in the 3rd quarter. Natixis Advisors LLC now owns 239,131 shares of the financial services provider’s stock valued at $29,284,000 after buying an additional 3,204 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Up 1.5 %

NYSE:RJF opened at $144.54 on Tuesday. The firm’s 50 day simple moving average is $157.94 and its 200 day simple moving average is $149.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a market cap of $29.62 billion, a PE ratio of 14.10, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, research analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.38%. Raymond James’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

Several research firms have commented on RJF. JMP Securities raised their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. Bank of America raised their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $167.55.

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.