PNC Financial Services Group Inc. Has $13.03 Million Stake in Raymond James (NYSE:RJF)

PNC Financial Services Group Inc. lifted its holdings in shares of Raymond James (NYSE:RJF) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,391 shares of the financial services provider’s stock after purchasing an additional 3,150 shares during the quarter. PNC Financial Services Group Inc. owned 0.05% of Raymond James worth $13,029,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Ceredex Value Advisors LLC raised its holdings in Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after buying an additional 474,443 shares during the period. AGF Management Ltd. increased its position in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Raymond James by 5.9% during the first quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock worth $316,966,000 after acquiring an additional 138,075 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Raymond James by 34.4% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after acquiring an additional 126,437 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after purchasing an additional 113,826 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 0.9 %

Shares of NYSE:RJF opened at $165.18 on Friday. Raymond James has a 52-week low of $102.42 and a 52-week high of $165.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market capitalization of $34.02 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99. The company has a 50-day simple moving average of $139.90 and a 200 day simple moving average of $125.88.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm posted $2.13 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Raymond James will post 10.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America boosted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. TD Cowen boosted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, JMP Securities raised their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus target price of $140.91.

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.