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% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166 shares of the financial services provider’s stock after buying an additional 106 shares during the period. TCTC Holdings LLC’s holdings in Raymond James were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP increased its stake in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Raymond James in the fourth quarter valued at approximately $105,701,000. JPMorgan Chase & Co. increased its stake in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after purchasing an additional 461,069 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Raymond James in the third quarter valued at approximately $34,105,000. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on RJF. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target 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. Finally, The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Stock Performance

Shares of RJF stock opened at $144.54 on Tuesday. The stock has a market cap of $29.62 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The company has a fifty day moving average price of $157.94 and a two-hundred day moving average price of $149.04. Raymond James has a one year low of $104.24 and a one year high of $174.32.

Raymond James (NYSE:RJF) last announced 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 net margin of 14.06% and a return on equity of 19.71%. As a group, equities analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

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

Raymond James Company Profile

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.