Raymond James Financial, Inc. (RJF) Position Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 8.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,282 shares of the financial services provider’s stock after buying an additional 666 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Raymond James Financial were worth $664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RJF. State Street Corp grew its holdings in Raymond James Financial by 44.2% in the 1st quarter. State Street Corp now owns 5,930,879 shares of the financial services provider’s stock valued at $452,297,000 after buying an additional 1,819,172 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Raymond James Financial in the 2nd quarter valued at approximately $98,773,000. Wells Fargo & Company MN grew its holdings in Raymond James Financial by 25.1% in the 2nd quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock valued at $256,605,000 after buying an additional 642,474 shares during the last quarter. Janus Capital Management LLC grew its holdings in Raymond James Financial by 975.9% in the 1st quarter. Janus Capital Management LLC now owns 437,681 shares of the financial services provider’s stock valued at $33,377,000 after buying an additional 397,001 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Raymond James Financial by 489.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock valued at $38,146,000 after buying an additional 391,701 shares during the last quarter. 70.02% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now owns 37,513 shares in the company, valued at $3,107,201.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the transaction, the chief executive officer now owns 128,980 shares in the company, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by company insiders.

A number of analysts have issued reports on RJF shares. BidaskClub lowered Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Instinet reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura raised their target price on Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Buckingham Research reaffirmed a “buy” rating and issued a $94.00 target price (up previously from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Finally, Zacks Investment Research raised Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Wednesday, August 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $89.33.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.02%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.90%.

Raymond James Financial Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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