Teza Capital Management LLC Increases Stake in Raymond James (NYSE:RJF)

Teza Capital Management LLC increased its position in Raymond James (NYSE:RJF) by 114.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,206 shares of the financial services provider’s stock after acquiring an additional 9,197 shares during the quarter. Teza Capital Management LLC’s holdings in Raymond James were worth $2,673,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RJF. TCTC Holdings LLC increased its holdings 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 acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd increased its holdings 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 acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its holdings 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 acquiring an additional 217 shares during the last quarter. Covestor Ltd increased its holdings in Raymond James by 56.7% in the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in Raymond James in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RJF shares. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. The Goldman Sachs Group cut their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Bank of America downgraded Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Morgan Stanley raised their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their target price on Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus target price of $153.82.

Insider Buying and Selling

In related news, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Stock Up 0.6%

Shares of NYSE RJF opened at $153.93 on Friday. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. 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 firm has a market capitalization of $31.06 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.90 and a beta of 1.02. The business has a 50-day moving average of $139.29 and a 200-day moving average of $152.47.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the firm posted $2.31 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. Raymond James’s payout ratio is 19.25%.

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.