Fairpointe Capital Lowers stake in Raymond James Financial (RJF)

Raymond James Financial (RJF) : Fairpointe Capital reduced its stake in Raymond James Financial by 15.44% during the most recent quarter end. The investment management company now holds a total of 2,610,505 shares of Raymond James Financial which is valued at $146,449,331 after selling 476,680 shares in Raymond James Financial , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Raymond James Financial makes up approximately 3.04% of Fairpointe Capital’s portfolio.

Other Hedge Funds, Including , Tower Bridge Advisors reduced its stake in RJF by selling 3,960 shares or 5.14% in the most recent quarter. The Hedge Fund company now holds 73,155 shares of RJF which is valued at $4,103,996. Raymond James Financial makes up approx 0.50% of Tower Bridge Advisors’s portfolio.Pacad Investment Ltd. reduced its stake in RJF by selling 3,947 shares or 28.5% in the most recent quarter. The Hedge Fund company now holds 9,900 shares of RJF which is valued at $555,390. Raymond James Financial makes up approx 0.07% of Pacad Investment Ltd.’s portfolio. First Personal Financial Services added RJF to its portfolio by purchasing 203 company shares during the most recent quarter which is valued at $11,346.Harfst Associates reduced its stake in RJF by selling 610 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 1,265,326 shares of RJF which is valued at $70,478,658. Raymond James Financial makes up approx 27.00% of Harfst Associates’s portfolio.

Raymond James Financial opened for trading at $57.29 and hit $57.88 on the upside on Monday, eventually ending the session at $57.35, with a gain of 0.31% or 0.18 points. The heightened volatility saw the trading volume jump to 4,39,552 shares. Company has a market cap of $8,126 M.

On the company’s financial health, Raymond James Financial reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.90. The company had revenue of $1358.00 million for the quarter, compared to analysts expectations of $1320.71 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 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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