PNC Financial Services Group Inc. decreased its position in shares of Raymond James (NYSE:RJF) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,210 shares of the financial services provider’s stock after selling 4,086 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Raymond James were worth $1,985,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of RJF. Bank of New York Mellon Corp grew its position in shares of Raymond James by 51.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,877,559 shares of the financial services provider’s stock worth $167,759,000 after buying an additional 634,378 shares in the last quarter. Millennium Management LLC grew its position in shares of Raymond James by 75.1% during the 1st quarter. Millennium Management LLC now owns 1,140,478 shares of the financial services provider’s stock worth $101,970,000 after buying an additional 489,310 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Raymond James by 7.7% during the 2nd quarter. Wells Fargo & Company MN now owns 4,521,398 shares of the financial services provider’s stock worth $403,986,000 after buying an additional 322,014 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Raymond James by 6,254.4% during the 1st quarter. Summit Trail Advisors LLC now owns 240,131 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 236,352 shares during the last quarter. Finally, Maltese Capital Management LLC purchased a new stake in shares of Raymond James during the 1st quarter worth $14,753,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE RJF opened at $92.56 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market cap of $13.36 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.82 and a beta of 1.65. Raymond James has a 1-year low of $78.19 and a 1-year high of $102.17.
Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.17). The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Raymond James had a return on equity of 15.66% and a net margin of 10.87%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. equities analysts forecast that Raymond James will post 6.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, September 28th. Raymond James’s dividend payout ratio (DPR) is presently 22.94%.
In other Raymond James news, President John C. Jr. Carson sold 5,698 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $92.66, for a total value of $527,976.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.46% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Raymond James from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. JMP Securities upgraded Raymond James from a “market perform” rating to an “outperform” rating in a research note on Friday, July 27th. Citigroup upgraded Raymond James from a “neutral” rating to a “buy” rating in a research note on Friday, July 13th. Finally, Wells Fargo & Co upped their price objective on Raymond James from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $103.75.
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.
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