Thrivent Financial for Lutherans Boosts Stock Holdings in Raymond James (NYSE:RJF)

Thrivent Financial for Lutherans lifted its stake in Raymond James (NYSE:RJF) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,396 shares of the financial services provider’s stock after buying an additional 6,985 shares during the period. Thrivent Financial for Lutherans’ holdings in Raymond James were worth $6,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RJF. TCTC Holdings LLC increased its stake in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the period. Signaturefd LLC increased its stake in shares of Raymond James by 6.1% in the fourth quarter. Signaturefd LLC now owns 8,459 shares of the financial services provider’s stock worth $1,314,000 after buying an additional 487 shares during the period. Parallel Advisors LLC increased its stake in shares of Raymond James by 14.5% in the fourth quarter. Parallel Advisors LLC now owns 2,252 shares of the financial services provider’s stock worth $350,000 after buying an additional 286 shares during the period. Eldridge Investment Advisors Inc. bought a new stake in Raymond James during the 4th quarter valued at $243,000. Finally, Corient Private Wealth LLC boosted its position in Raymond James by 3.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,282 shares of the financial services provider’s stock valued at $3,305,000 after buying an additional 658 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RJF shares. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America upped their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. JMP Securities upped their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company raised their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Performance

Shares of RJF stock opened at $141.35 on Monday. The firm has a market capitalization of $28.96 billion, a PE ratio of 13.79, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a 50 day moving average price of $156.76 and a 200-day moving average price of $149.72. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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, equities research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.41%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.