PNC Financial Services Group Inc. Acquires 211 Shares of Raymond James (NYSE:RJF)

PNC Financial Services Group Inc. raised its holdings in Raymond James (NYSE:RJF) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,181 shares of the financial services provider’s stock after purchasing an additional 211 shares during the period. PNC Financial Services Group Inc.’s holdings in Raymond James were worth $2,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RJF. Ontario Teachers Pension Plan Board grew its position in Raymond James by 4.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock worth $628,000 after buying an additional 240 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Raymond James by 86.2% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 2,047 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Raymond James by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock worth $49,603,000 after purchasing an additional 89,981 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Raymond James by 44.5% in the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after purchasing an additional 34,101 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Raymond James by 26.0% during the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock worth $16,668,000 after purchasing an additional 34,200 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RJF. Keefe, Bruyette & Woods decreased their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. TD Cowen reduced their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Morgan Stanley lifted their price target on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, JMP Securities reissued a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.22.

Raymond James Trading Up 0.1 %

Shares of NYSE RJF opened at $119.06 on Friday. The firm has a 50 day moving average price of $122.84 and a two-hundred day moving average price of $118.48. The stock has a market cap of $24.68 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business earned $2.03 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Raymond James will post 9.55 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, July 1st. Raymond James’s payout ratio is presently 21.77%.

Raymond James Profile

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.