Thrivent Financial for Lutherans Cuts Position in Raymond James (NYSE:RJF)

Thrivent Financial for Lutherans trimmed its position in Raymond James (NYSE:RJF - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,323,329 shares of the financial services provider's stock after selling 163,452 shares during the period. Thrivent Financial for Lutherans owned 0.64% of Raymond James worth $163,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. Covestor Ltd grew its stake in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider's stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider's stock worth $31,000 after acquiring an additional 126 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the first quarter worth $33,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Raymond James in the fourth quarter worth $33,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Raymond James by 46.9% in the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider's stock worth $55,000 after acquiring an additional 137 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Performance

RJF stock traded up $0.20 during trading on Friday, reaching $124.31. The stock had a trading volume of 2,076,243 shares, compared to its average volume of 1,113,992. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The stock's 50 day moving average is $115.40 and its two-hundred day moving average is $120.35. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $25.60 billion, a PE ratio of 15.03, a PEG ratio of 0.81 and a beta of 1.02.

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

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James's dividend payout ratio (DPR) is currently 21.77%.

Insider Transactions at Raymond James

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

Analyst Upgrades and Downgrades

RJF has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on Raymond James in a report on Thursday, September 12th. They set an "overweight" rating and a $138.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. TD Cowen upped their price target on Raymond James from $130.00 to $133.00 and gave the company a "hold" rating in a report on Monday, July 8th. Jefferies Financial Group upped their price target on Raymond James from $122.00 to $123.00 and gave the company a "hold" rating in a report on Monday, July 8th. Finally, UBS Group lowered their price target on Raymond James from $138.00 to $135.00 and set a "neutral" rating on the stock in a report on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $130.70.

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.