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

Key Points

• Northern Trust Corp has increased its stake in Raymond James Financial by 6.7%, now owning approximately 2.25 million shares valued at $312.26 million.
• Several institutional investors have also adjusted their positions, with D.A. Davidson and Golden State Wealth Management raising their stakes in the firm during the first quarter.
• Raymond James Financial reported quarterly earnings of $2.18 per share, missing the consensus estimate by $0.18, while its revenue grew by 5.3% year-over-year to $3.40 billion.

Northern Trust Corp raised its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,247,922 shares of the financial services provider's stock after purchasing an additional 140,704 shares during the period. Northern Trust Corp owned approximately 1.10% of Raymond James Financial worth $312,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock valued at $778,000 after buying an additional 197 shares during the period. Golden State Wealth Management LLC raised its holdings in Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $9,366,000. Assenagon Asset Management S.A. lifted its position in shares of Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after acquiring an additional 3,035 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Raymond James Financial by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock valued at $65,058,000 after purchasing an additional 3,691 shares during the period. Institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several research reports. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Cowen reissued a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research report on Wednesday, April 30th. Finally, JMP Securities lifted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Trading Down 0.9%

Shares of RJF stock opened at $162.7110 on Thursday. The company has a market capitalization of $32.44 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.35 and a beta of 1.05. Raymond James Financial, Inc. has a 12-month low of $113.91 and a 12-month high of $174.32. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $159.21 and a 200 day moving average price of $150.10.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share 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 firm 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% on a year-over-year basis. Research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction 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 transaction, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

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.

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