Raymond James (NYSE:RJF) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Raymond James (NYSE:RJF) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,965 shares of the financial services provider’s stock after buying an additional 404 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Raymond James were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC increased its holdings in shares of Raymond James by 0.3% during the second quarter. Nemes Rush Group LLC now owns 64,820 shares of the financial services provider’s stock valued at $8,012,000 after acquiring an additional 172 shares in the last quarter. Creative Planning increased its stake in Raymond James by 2.2% during the 2nd quarter. Creative Planning now owns 37,781 shares of the financial services provider’s stock valued at $4,670,000 after purchasing an additional 797 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Raymond James in the second quarter worth $244,000. Susquehanna Fundamental Investments LLC lifted its stake in shares of Raymond James by 187.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 44,760 shares of the financial services provider’s stock worth $5,533,000 after buying an additional 29,212 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Raymond James by 20.3% during the second quarter. Mackenzie Financial Corp now owns 23,581 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 3,983 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

NYSE:RJF opened at $124.92 on Wednesday. The stock has a market capitalization of $25.89 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. The stock’s 50-day moving average price is $117.86 and its 200-day moving average price is $120.57. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm posted $1.85 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. UBS Group reduced their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $131.90.

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.