Thrivent Financial for Lutherans Sells 163,452 Shares of Raymond James (NYSE:RJF)

Thrivent Financial for Lutherans lowered its stake in shares of Raymond James (NYSE:RJF) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,323,329 shares of the financial services provider’s stock after selling 163,452 shares during the quarter. Thrivent Financial for Lutherans owned about 0.64% of Raymond James worth $163,577,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RJF. Private Advisor Group LLC acquired a new position in shares of Raymond James during the fourth quarter valued at about $289,000. Great Lakes Advisors LLC acquired a new position in Raymond James in the 4th quarter worth approximately $207,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Raymond James by 86.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock worth $493,000 after buying an additional 2,047 shares during the period. PNC Financial Services Group Inc. increased its holdings in Raymond James by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,181 shares of the financial services provider’s stock worth $2,696,000 after buying an additional 211 shares during the period. Finally, UBS Group AG increased its holdings in Raymond James by 28.4% in the 4th quarter. UBS Group AG now owns 321,955 shares of the financial services provider’s stock worth $35,898,000 after buying an additional 71,305 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Up 0.2 %

Shares of RJF opened at $124.31 on Friday. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company has a market capitalization of $25.60 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The stock has a fifty day simple moving average of $115.34 and a two-hundred day simple moving average of $120.32. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the company earned $1.85 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group lowered their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company started coverage on Raymond James in a research report on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. Jefferies Financial Group increased their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, TD Cowen increased their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $130.70.

Insider Buying and Selling

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Raymond James 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.