Posted by admin on Aug 24th, 2022 
Northwestern Mutual Wealth Management Co. lowered its stake in shares of Raymond James (NYSE:RJF – Get Rating) by 52.4% during the first quarter, HoldingsChannel reports. The firm owned 2,720 shares of the financial services provider’s stock after selling 2,998 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Raymond James were worth $299,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Evoke Wealth LLC raised its stake in Raymond James by 1,780.0% in the 4th quarter. Evoke Wealth LLC now owns 282 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 267 shares during the period. Parkside Financial Bank & Trust raised its stake in Raymond James by 59.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 122 shares during the period. UMB Bank N A MO bought a new stake in Raymond James in the 4th quarter valued at $51,000. Prospera Financial Services Inc bought a new stake in Raymond James in the 1st quarter valued at $66,000. Finally, Allegheny Financial Group LTD bought a new stake in Raymond James in the 4th quarter valued at $76,000. Institutional investors own 76.98% of the company’s stock.
RJF stock opened at $106.50 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market capitalization of $22.99 billion, a price-to-earnings ratio of 15.17 and a beta of 1.09. The business’s fifty day moving average price is $96.05 and its two-hundred day moving average price is $100.45. Raymond James has a fifty-two week low of $84.86 and a fifty-two week high of $117.37.
Raymond James (NYSE:RJF – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.12). Raymond James had a return on equity of 17.94% and a net margin of 13.58%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts anticipate that Raymond James will post 7.43 earnings per share for the current year.
A number of research firms recently weighed in on RJF. Morgan Stanley dropped their price target on Raymond James from $138.00 to $119.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Citigroup dropped their price target on Raymond James from $205.00 to $195.00 in a research note on Friday, April 29th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.25.
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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.
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