Royal Bank Cuts Holdings in Raymond James Financial by 28%

Royal Bank of Canada has significantly reduced its holdings in Raymond James Financial, Inc. by selling 70,816 shares during the first quarter.

This sale represents a 28% decrease in Royal Bank of Canada's holdings in Raymond James Financial, with their current stake totaling 182,279 shares worth approximately $26.4 million as of the most recent SEC filing.

The financial services provider reported earnings per share (EPS) of $3.14 for the quarter, exceeding analysts' consensus estimates of $2.91 by $0.23. The company's revenue was up 15.6% compared to the same period last year, with a net margin of 13.57% and a return on equity of 19.17%.