Thrivent Financial for Lutherans Has $4.21 Million Stock Holdings in Raymond James (NYSE:RJF)

Thrivent Financial for Lutherans reduced its position in Raymond James (NYSE:RJF) by 97.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,411 shares of the financial services provider’s stock after selling 1,288,918 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Raymond James were worth $4,214,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RJF. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the period. Quarry LP acquired a new stake in Raymond James in the second quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James in the third quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in Raymond James during the third quarter worth $34,000. Finally, Peterson Financial Group Inc. bought a new position in Raymond James in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Up 0.9 %

RJF opened at $165.18 on Monday. The stock has a market cap of $34.02 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a fifty-two week low of $102.42 and a fifty-two week high of $165.42. The firm’s fifty day moving average is $139.90 and its 200 day moving average is $125.89.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the firm earned $2.13 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that Raymond James will post 10.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RJF. Jefferies Financial Group increased their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group boosted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. TD Cowen upped their price objective on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, JMP Securities raised their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus target price of $140.91.

About Raymond James

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.