PNC Financial Services Group Inc. lowered its position in shares of Raymond James (NYSE:RJF) by 61.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,637 shares of the financial services provider’s stock after selling 13,573 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Raymond James were worth $795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. increased its position in shares of Raymond James by 9.4% in the third quarter. Crossmark Global Holdings Inc. now owns 30,296 shares of the financial services provider’s stock worth $2,789,000 after purchasing an additional 2,609 shares during the period. Blueport Capital L.P. increased its position in shares of Raymond James by 110.3% in the third quarter. Blueport Capital L.P. now owns 9,347 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 4,903 shares during the period. Piedmont Investment Advisors Inc. increased its position in shares of Raymond James by 175.4% in the third quarter. Piedmont Investment Advisors Inc. now owns 4,151 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 2,644 shares during the period. Norinchukin Bank The increased its position in shares of Raymond James by 15.0% in the third quarter. Norinchukin Bank The now owns 9,299 shares of the financial services provider’s stock worth $856,000 after purchasing an additional 1,214 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Raymond James by 86.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 651 shares during the period. Institutional investors own 72.73% of the company’s stock.

In other Raymond James news, insider Tashtego S. Elwyn bought 1,500 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were purchased at an average price of $73.75 per share, for a total transaction of $110,625.00. Following the completion of the transaction, the insider now directly owns 12,055 shares in the company, valued at approximately $889,056.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP George Catanese sold 6,611 shares of Raymond James stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $78.71, for a total value of $520,351.81. Following the completion of the transaction, the senior vice president now owns 6,180 shares in the company, valued at approximately $486,427.80. The disclosure for this sale can be found here. Insiders own 10.46% of the company’s stock.

Raymond James stock opened at $74.34 on Friday. Raymond James has a 12-month low of $71.93 and a 12-month high of $102.17. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.59 and a beta of 1.74.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.13). Raymond James had a net margin of 11.46% and a return on equity of 15.72%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, equities analysts anticipate that Raymond James will post 7.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Thursday, January 3rd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.30. Raymond James’s payout ratio is currently 18.55%.

RJF has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Raymond James from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Wolfe Research initiated coverage on Raymond James in a research report on Tuesday, September 25th. They issued an “outperform” rating on the stock. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Citigroup cut Raymond James from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Finally, Wells Fargo & Co decreased their price target on Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $97.75.

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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.

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

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