Harfst Associates Lowers stake in Raymond James Financial (RJF)

Raymond James Financial (RJF) : Harfst Associates reduced its stake in Raymond James Financial by 0.13% during the most recent quarter end. The investment management company now holds a total of 1,265,936 shares of Raymond James Financial which is valued at $64,296,889 after selling 1,625 shares in Raymond James Financial , the firm said in a disclosure report filed with the SEC on May 3, 2016.Raymond James Financial makes up approximately 40.63% of Harfst Associates’s portfolio.

Other Hedge Funds, Including , Bryn Mawr Trust Co boosted its stake in RJF in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 82,535 shares of Raymond James Financial which is valued at $4,191,953. Raymond James Financial makes up approx 0.27% of Bryn Mawr Trust Co’s portfolio. Sii Investments Incwi sold out all of its stake in RJF during the most recent quarter. The investment firm sold 3,947 shares of RJF which is valued $205,915.Glenmede Trust Co Na boosted its stake in RJF in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 123 shares of Raymond James Financial which is valued at $6,417. Valley National Advisers Inc sold out all of its stake in RJF during the most recent quarter. The investment firm sold 51 shares of RJF which is valued $2,750.Patriot Wealth Management boosted its stake in RJF in the latest quarter, The investment management firm added 1,021 additional shares and now holds a total of 75,505 shares of Raymond James Financial which is valued at $4,071,230. Raymond James Financial makes up approx 0.81% of Patriot Wealth Management’s portfolio.

Raymond James Financial opened for trading at $50.84 and hit $52.325 on the upside on Tuesday, eventually ending the session at $52.26, with a gain of 3.77% or 1.9 points. The heightened volatility saw the trading volume jump to 8,26,021 shares. Company has a market cap of $7,396 M.

On the company’s financial health, Raymond James Financial reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.75. The company had revenue of $1311.50 million for the quarter, compared to analysts expectations of $1290.23 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Raymond James Financial Inc. is a financial services company providing private client capital markets asset management banking and other services to individuals corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank and the Other Segment. Private Client Group offers securities transaction and financial planning services. Capital Markets consist of equity fixed income products and services. Asset Management offers investment advisory services for individual and institutional investment portfolios along with mutual funds. RJ Bank provides corporate SBL and residential loans as well as FDIC insured deposit accounts to clients of broker-dealer subsidiaries and to general public. Other Segment includes principal capital and private equity activities corporate overhead costs of Raymond James Financial such as interest cost on public debt and the acquisition and integration costs.

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