PNC Financial Services Group Inc. Raises Stake in Raymond James (NYSE:RJF)

PNC Financial Services Group Inc. lifted its position in Raymond James (NYSE:RJF) by 433.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 567,460 shares of the financial services provider’s stock after purchasing an additional 461,069 shares during the period. PNC Financial Services Group Inc.’s holdings in Raymond James were worth $88,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in shares of Raymond James in the third quarter worth about $34,000. Y.D. More Investments Ltd increased its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Raymond James in the 3rd quarter worth $37,000. Plato Investment Management Ltd boosted its holdings in shares of Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. Finally, Quarry LP grew its position in shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Trading Down 0.3 %

Shares of RJF opened at $143.35 on Friday. The firm has a market capitalization of $29.37 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.90 and a beta of 1.04. The company has a 50-day moving average of $159.80 and a 200 day moving average of $147.84. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, research analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. JMP Securities increased their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Citigroup boosted their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $167.55.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

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.