Northern Trust Corp Has $312.26 Million Position in Raymond James Financial, Inc. $RJF

Northern Trust Corp boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,247,922 shares of the financial services provider’s stock after buying an additional 140,704 shares during the quarter. Northern Trust Corp’s holdings in Raymond James Financial were worth $312,259,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the first quarter valued at $25,000. Alpine Bank Wealth Management bought a new stake in Raymond James Financial during the 1st quarter worth about $27,000. Golden State Wealth Management LLC lifted its position in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares during the period. Olde Wealth Management LLC acquired a new position in Raymond James Financial during the 1st quarter valued at about $33,000. Finally, TCTC Holdings LLC boosted its stake in shares of Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Price Performance

Shares of RJF stock opened at $162.7110 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 12-month low of $113.91 and a 12-month high of $174.32. The firm has a fifty day moving average of $159.21 and a 200-day moving average of $150.10. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the business posted $2.39 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Morgan Stanley lifted their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. JMP Securities raised their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $163.80.

About Raymond James Financial

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.