Thrivent Financial for Lutherans Sells 1,288,918 Shares of Raymond James (NYSE:RJF)

Thrivent Financial for Lutherans decreased its stake in shares of Raymond James (NYSE:RJF) by 97.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,411 shares of the financial services provider’s stock after selling 1,288,918 shares during the period. Thrivent Financial for Lutherans’ holdings in Raymond James were worth $4,214,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC grew its position 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 worth $749,000 after purchasing an additional 82 shares during the period. Wedmont Private Capital grew its position in Raymond James by 5.1% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after buying an additional 86 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Raymond James by 3.9% during the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC increased its stake in shares of Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 96 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in Raymond James by 2.7% during the third quarter. MFA Wealth Advisors LLC now owns 4,051 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 105 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RJF has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group increased their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. JMP Securities upped their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Finally, Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Trading Up 0.9 %

NYSE RJF opened at $165.18 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a one year low of $102.42 and a one year high of $165.42. The company has a 50-day simple moving average of $139.90 and a 200-day simple moving average of $125.89. The firm has a market capitalization of $34.02 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Raymond James will post 10.83 earnings per share for the current year.

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.