Home / FINANCIAL NEWS / Raymond James Financial, Inc. (NYSE:RJF) Stake Lowered by Thrivent Financial For Lutherans

Raymond James Financial, Inc. (NYSE:RJF) Stake Lowered by Thrivent Financial For Lutherans

Thrivent Financial For Lutherans lowered its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 12.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,284,781 shares of the financial services provider’s stock after selling 190,027 shares during the period. Thrivent Financial For Lutherans owned approximately 0.89% of Raymond James Financial worth $103,065,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Burt Wealth Advisors acquired a new stake in shares of Raymond James Financial in the second quarter worth $150,000. Global X Management Co. LLC increased its position in shares of Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 690 shares in the last quarter. Triangle Securities Wealth Management acquired a new stake in shares of Raymond James Financial in the second quarter worth $206,000. Pacer Advisors Inc. increased its position in shares of Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 206 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Raymond James Financial in the second quarter worth $225,000. 70.02% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Nomura raised their price target on shares of Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Instinet reaffirmed a “buy” rating and set a $90.00 price target (up from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $85.00 price target (up from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a report on Tuesday, August 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.33.

In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the sale, the chief executive officer now owns 128,980 shares in the company, valued at $10,727,266.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction on Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the sale, the insider now owns 37,513 shares in the company, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.

Raymond James Financial, Inc. (NYSE RJF) opened at 84.33 on Friday. The company has a market capitalization of $12.12 billion, a P/E ratio of 20.05 and a beta of 1.66. The firm’s 50-day moving average is $79.30 and its 200-day moving average is $77.70. Raymond James Financial, Inc. has a 1-year low of $56.06 and a 1-year high of $85.97.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Raymond James Financial’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts predict that Raymond James Financial, Inc. will post $5.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.90%.

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Raymond James Financial Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)




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