Thrivent Financial for Lutherans Raises Holdings in Raymond James Financial, Inc. $RJF

Thrivent Financial for Lutherans grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 36.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 82,201 shares of the financial services provider’s stock after acquiring an additional 21,829 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Raymond James Financial were worth $13,156,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Anfield Capital Management LLC purchased a new position in Raymond James Financial in the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial during the fourth quarter worth approximately $32,000. Harbor Investment Advisory LLC grew its stake in Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after buying an additional 172 shares during the period. Salomon & Ludwin LLC increased its position in shares of Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen restated a “hold” rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Jefferies Financial Group lowered their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Morgan Stanley boosted their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average target price of $173.25.

Raymond James Financial Trading Up 0.2%

NYSE RJF opened at $154.49 on Tuesday. The stock has a market cap of $30.11 billion, a P/E ratio of 14.60, a PEG ratio of 1.18 and a beta of 0.99. The company’s fifty day simple moving average is $149.47 and its 200-day simple moving average is $157.78. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.