Northwestern Mutual Wealth Management Co. Takes $645,000 Position in Raymond James Financial, Inc. $RJF

Northwestern Mutual Wealth Management Co. bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,240 shares of the financial services provider’s stock, valued at approximately $645,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RJF. Kingsview Wealth Management LLC raised its position in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares in the last quarter. Algebris UK Ltd. purchased a new stake in shares of Raymond James Financial during the fourth quarter worth approximately $10,179,000. Fisher Asset Management LLC increased its stake in shares of Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the period. Swedbank AB raised its holdings in Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after acquiring an additional 9,838 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its holdings in Raymond James Financial by 40.8% in the fourth quarter. Wealthfront Advisers LLC now owns 24,725 shares of the financial services provider’s stock valued at $3,971,000 after acquiring an additional 7,164 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Up 1.2%

Shares of NYSE RJF opened at $176.85 on Thursday. The business has a 50-day moving average price of $169.39 and a 200 day moving average price of $157.93. The stock has a market cap of $34.02 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. Equities research analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Barclays lifted their price target on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Morgan Stanley raised their target price on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Finally, TD Cowen decreased their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $181.00.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares of the company’s stock, valued at $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by corporate insiders.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.