Tectonic Advisors LLC Has $659,000 Stock Holdings in Raymond James (NYSE:RJF)

Tectonic Advisors LLC lifted its stake in shares of Raymond James (NYSE:RJF) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,244 shares of the financial services provider’s stock after acquiring an additional 125 shares during the quarter. Tectonic Advisors LLC’s holdings in Raymond James were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of Raymond James by 121.0% during the fourth 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 during the period. Future Financial Wealth Managment LLC bought a new position in Raymond James during the third quarter worth $32,000. Gladius Capital Management LP acquired a new position in Raymond James in the third quarter valued at $34,000. Finally, Peterson Financial Group Inc. bought a new stake in Raymond James during the third quarter valued at $37,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $165.67 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The business has a 50-day simple moving average of $162.16 and a two-hundred day simple moving average of $141.27. The company has a market capitalization of $33.86 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Research analysts expect that Raymond James will post 11.16 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. Raymond James’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of recent analyst reports. JMP Securities boosted their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Bank of America lifted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $166.09.

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.