PNC Financial Services Group Inc. Trims Stock Holdings in Raymond James Financial, Inc. $RJF

Key Points

• PNC Financial Services Group cut its stake in Raymond James Financial by 13.6% in the first quarter, selling 77,641 shares and leaving it with 494,268 shares valued at about $71.6 million.
• Raymond James beat earnings expectations in its latest quarterly report, posting EPS of $3.14 versus $2.91 expected and revenue of $3.93 billion versus $3.87 billion expected.
• Analyst sentiment remains cautious overall: several firms raised price targets after results, but the stock still carries a Hold consensus with an average target of $178.82.

PNC Financial Services Group Inc. cut its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 494,268 shares of the financial services provider's stock after selling 77,641 shares during the period. PNC Financial Services Group Inc. owned approximately 0.25% of Raymond James Financial worth $71,565,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock worth $573,000 after purchasing an additional 314 shares during the period. Woodline Partners LP boosted its stake in shares of Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock valued at $2,164,000 after buying an additional 4,592 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Raymond James Financial by 137.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock worth $182,000 after buying an additional 685 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider's stock worth $348,000 after buying an additional 298 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in shares of Raymond James Financial during the 2nd quarter worth $363,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RJF shares. Morgan Stanley upped their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a report on Friday, July 10th. Citizens Jmp boosted their price target on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a research report on Thursday. BMO Capital Markets reiterated a "market perform" rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, UBS Group reiterated a "neutral" rating and set a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $178.82.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $166.14 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company's 50-day moving average price is $156.70 and its 200 day moving average price is $156.53. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The stock has a market cap of $32.38 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.07 and a beta of 0.93.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The business's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. As a group, research analysts forecast that Raymond James Financial, Inc. will post 11.84 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial's payout ratio is 20.42%.

Key Stories Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James beat Q3 earnings and revenue estimates, with reported EPS of $3.14 versus $2.91 expected and revenue of $3.93 billion versus $3.87 billion expected.
• Positive Sentiment: Management reported record quarterly net revenues, record EPS, and strong year-over-year growth in profitability, which suggests operating momentum remains solid. Raymond James Financial Reports Fiscal Third Quarter of 2026 Results
• Positive Sentiment: Several analysts raised price targets after the earnings release, including Barclays to $196, Citizens JMP to $205, and JPMorgan to $179, reinforcing a constructive view on the stock.
• Positive Sentiment: Business fundamentals were strong, with record client assets under administration of $1.92 trillion and $21.7 billion of net new assets in the Private Client Group, highlighting healthy client inflows.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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