Teacher Retirement System of Texas Increases Position in Raymond James (NYSE:RJF)

Teacher Retirement System of Texas lifted its position in shares of Raymond James (NYSE:RJF) by 630.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 approximately 0.10% of Raymond James worth $32,083,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RJF. TCTC Holdings LLC increased its stake in 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 buying an additional 106 shares in the last quarter. Y.D. More Investments Ltd increased its stake in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd increased its stake in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after buying an additional 217 shares in the last quarter. Quarry LP increased its stake in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Raymond James in the 4th quarter worth $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 3.3 %

Shares of NYSE:RJF opened at $141.64 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a 50-day moving average price of $157.02 and a 200 day moving average price of $149.14. The company has a market cap of $29.02 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JMP Securities increased their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Citigroup increased their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock 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.