Thrivent Financial for Lutherans Purchases 6,985 Shares of Raymond James (NYSE:RJF)

Thrivent Financial for Lutherans raised its position in shares of Raymond James (NYSE:RJF - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,396 shares of the financial services provider's stock after purchasing an additional 6,985 shares during the period. Thrivent Financial for Lutherans' holdings in Raymond James were worth $6,430,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC raised its holdings in shares of Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after buying an additional 106 shares in the last quarter. Y.D. More Investments Ltd grew its position in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its stake in Raymond James by 1,142.1% during the fourth 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 in the last quarter. Quarry LP boosted its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 187 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Raymond James during the 4th quarter valued at approximately $68,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Raymond James from a "neutral" rating to a "buy" rating and raised their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Citigroup boosted their price objective on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Bank of America increased their target price on Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Morgan Stanley raised their price objective on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of "Hold" and an average target price of $167.55.

Raymond James Trading Down 0.0 %

Shares of NYSE:RJF traded down $0.04 during midday trading on Tuesday, reaching $144.92. The company's stock had a trading volume of 430,840 shares, compared to its average volume of 1,172,648. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a 50 day moving average price of $156.57 and a two-hundred day moving average price of $149.91. The firm has a market capitalization of $29.70 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.38%. The ex-dividend date is Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is currently 19.51%.

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.