PNC Financial Services Group Inc. Purchases 3,150 Shares of Raymond James (NYSE:RJF)

PNC Financial Services Group Inc. increased its position in shares of Raymond James (NYSE:RJF) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. 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.’s holdings in Raymond James were worth $13,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the period. Quarry LP bought a new position in Raymond James during the second quarter worth about $29,000. Covestor Ltd increased its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the 3rd quarter worth about $32,000. Finally, Gladius Capital Management LP acquired a new position in shares of Raymond James during the 3rd quarter worth approximately $34,000. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RJF shares. Bank of America lifted their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Morgan Stanley increased their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company boosted their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Stock Up 0.9 %

RJF stock opened at $165.18 on Friday. The firm has a 50-day moving average price of $139.90 and a 200-day moving average price of $125.88. Raymond James has a 12 month low of $102.42 and a 12 month high of $165.42. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock 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.

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

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.