4,240 Shares in Raymond James Financial, Inc. $RJF Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent filing with the SEC. The firm acquired 4,240 shares of the financial services provider’s stock, valued at approximately $645,000.

Other large investors also recently bought and sold shares of the company. Great Valley Advisor Group Inc. lifted its stake in shares of Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the period. Collective Family Office LLC increased its stake in shares of Raymond James Financial by 3.0% during the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 62 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Raymond James Financial by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 71 shares during the period. Parallel Advisors LLC raised its holdings in Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 71 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in Raymond James Financial by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Argus raised their price target on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley lifted their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. UBS Group set a $184.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $181.00.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% 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.

Raymond James Financial Stock Performance

RJF opened at $176.85 on Thursday. The stock has a market cap of $34.02 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $169.39 and its 200 day simple moving average is $157.93. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.18 EPS. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Company Profile

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.