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Raymond James Financial, Inc. - RJF STOCK NEWS

Welcome to our dedicated page for Raymond James Financial news (Ticker: RJF), a resource for investors and traders seeking the latest updates and insights on Raymond James Financial stock.

Raymond James Financial, Inc. (NYSE: RJF) is a leading, diversified financial services company headquartered in Florida, offering a broad range of services including wealth management, investment banking, asset management, and commercial banking. Founded in 1962 and public since 1983, Raymond James supports more than 8,700 financial advisors across the United States, Canada, and the United Kingdom, with total client assets exceeding $1.45 trillion as of March 2024.

The company's core business operations are primarily focused on providing financial planning and advisory services through its subsidiary companies. Raymond James is committed to helping individuals, corporations, and municipalities achieve their financial goals through a personalized, client-first approach. The firm operates three broker-dealer subsidiaries, offering a wide range of services from private client group advisory to capital markets and asset management.

Raymond James has been consistently recognized for its outstanding community support and corporate philanthropy. It has earned national acclaim for customer service, being a great place to work, and its significant support of the arts. Recent achievements include record net revenues of $3.12 billion and net income of $474 million for the fiscal second quarter ended March 31, 2024. The Private Client Group and Asset Management segments have shown robust growth, contributing significantly to the company's financial health.

The firm's strategic initiatives include the integration of cutting-edge tax management technology from 55ip, enhancing its managed account platform to deliver tax-smart transition, rebalancing, and ongoing tax-loss harvesting. This partnership, expected to take effect mid-2024, underscores Raymond James' commitment to leveraging advanced technology to provide superior client outcomes.

Raymond James' capital markets division has shown resilience and growth despite challenging macroeconomic conditions. With a strong pipeline of investment banking deals and healthy new business activity, the company continues to capitalize on market opportunities.

Furthermore, the company maintains a strong capital position with a total capital ratio of 23.3% and a tier 1 leverage ratio of 12.3%, well above regulatory requirements. This financial stability allows Raymond James to support its operations, fund growth initiatives, and return value to shareholders through dividends and share repurchases.

For investors seeking a reliable financial services firm with a robust track record, Raymond James presents a compelling option, blending traditional financial expertise with innovative solutions to meet evolving market demands.

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On May 20, 2024, Raymond James Financial's Board of Directors announced quarterly dividends for both common and preferred stock. A dividend of $0.45 per share on common stock (NYSE: RJF) will be payable on July 15, 2024, to shareholders on record as of July 1, 2024. Additionally, a dividend of $0.3984375 per depositary share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (NYSE: RJF PrB) will be payable on July 1, 2024, to shareholders on record as of June 14, 2024.

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Lisa Detanna, a Private Wealth Advisor and Managing Director at Raymond James, has been named to Barron’s 2024 list of Top 100 Financial Advisors. This recognition highlights top advisors across the country based on qualitative and quantitative criteria, including client retention, compliance records, and various types of revenues and assets under management. The ranking, released on May 10, 2024, is based on data from 1,160 advisors and firms. Detanna has over 30 years of experience in financial services and has been with Raymond James since 2011. She is committed to financial literacy, co-authoring a children’s book and hosting numerous educational events to promote financial awareness and stewardship among young people.

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Raymond James is launching a new Private Credit business in partnership with Eldridge Industries and Raymond James Bank, offering private credit solutions to sponsor-backed portfolio companies in four key sectors. The joint venture, Raymond James Private Credit, aims to strengthen relationships with private equity firms by combining sector expertise and lending capabilities. The initiative will provide $50 million - $250 million+ per transaction to eligible private equity clients, enhancing Raymond James' position in the middle market. Omer Masud, a credit industry veteran, has been appointed as head of sponsor finance origination to lead the Private Credit effort.

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Raymond James Financial, Inc. (NYSE: RJF) reported record client assets under administration of $1.45 trillion and quarterly net revenues of $3.12 billion, up 9% over the prior year. The company achieved record Private Client Group assets in fee-based accounts of $798.8 billion, showing strong growth in client assets. Quarterly net income available to common shareholders was $474 million, or $2.22 per diluted share. For the first half of fiscal 2024, total net revenues were $6.13 billion, with net income available to common shareholders reaching $971 million. The company also recorded an annualized return on common equity of 18.3% for the first half of fiscal 2024.
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Raymond James Financial appoints CFO Paul Shoukry as President in a succession planning move, with plans for him to become CEO in 2025. Other key leadership changes announced include retirements and promotions within the company.
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Raymond James Financial, Inc. declares a quarterly cash dividend of $0.45 per share on its common stock and $0.3984375 per depositary share on its Series B Non-Cumulative Perpetual Preferred Stock, benefiting shareholders.
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Intercontinental Exchange, Inc. (NYSE: ICE) announced that Raymond James Bank will use its Encompass end-to-end digital lending platform for mortgage origination. The decision came after an independent review of multiple competing solutions. Raymond James Bank, an affiliate of NYSE-listed Raymond James Financial, Inc. (NYSE:RJF), already uses ICE Data Services and other ICE solutions, making the interconnectivity of Encompass a natural fit. ICE Mortgage Technology President, Tim Bowler, expressed confidence in their system's ability to support the lending needs of high net-worth borrowers across retail and delegated correspondent lending channels.
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Raymond James Financial, Inc. (RJF) reported record client assets under administration of $1.37 trillion and record financial assets under management of $215 billion, up 17% and 16%, respectively, over December 2022. Quarterly net revenues were $3.01 billion, up 8% over the prior year’s fiscal first quarter. Annualized return on common equity was 19.1% and annualized adjusted return on tangible common equity was 23.8% for the fiscal first quarter.
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Velocity Clearing LLC has entered into a Prime Brokerage services referral agreement with Raymond James Financial (NYSE: RJF). This agreement allows Raymond James to introduce Velocity's Prime Brokerage Services to their institutional client base, providing core custody, clearance & settlement, financing, and securities lending. The partnership aims to offer a meaningful value-add option for Raymond James' institutional client partnerships and includes access to multiple balance sheets and product mix, as well as deep expertise in securities lending.
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First Trust Advisors L.P. has launched a new actively managed ETF, the FT Raymond James Multicap Growth Equity ETF (NYSE Arca: RJMG), seeking long-term capital appreciation. The ETF invests in U.S.-listed equity securities with growth characteristics rated 'Strong Buy' or 'Outperform' by Raymond James Equity Research. The fund's model portfolio is developed and overseen by Raymond James, providing investors exposure to their highest conviction ideas.
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FAQ

What services does Raymond James Financial provide?

Raymond James Financial offers wealth management, investment banking, asset management, and commercial banking services.

How many financial advisors does Raymond James support?

Raymond James supports over 8,700 financial advisors across the U.S., Canada, and the U.K.

What is the total client assets under Raymond James' administration?

As of March 2024, Raymond James has total client assets of $1.45 trillion.

What recent technological integration has Raymond James announced?

Raymond James will integrate 55ip's tax management technology across its managed account platform by mid-2024.

How is Raymond James recognized in terms of community support?

Raymond James is nationally recognized for its community support, corporate philanthropy, and support of the arts.

What are the financial highlights for Raymond James for the fiscal second quarter ended March 31, 2024?

Raymond James reported net revenues of $3.12 billion and net income of $474 million for the fiscal second quarter ended March 31, 2024.

Where is Raymond James Financial headquartered?

Raymond James Financial is headquartered in Florida.

How does Raymond James maintain its financial stability?

Raymond James maintains strong capital ratios with a total capital ratio of 23.3% and a tier 1 leverage ratio of 12.3%.

When was Raymond James Financial founded and when did it go public?

Raymond James Financial was founded in 1962 and went public in 1983.

What recent partnership has Raymond James undertaken to enhance its services?

Raymond James partnered with J.P. Morgan Asset Management and 55ip to integrate advanced tax management technology into its managed account platform.

Raymond James Financial, Inc.

NYSE:RJF

RJF Rankings

RJF Stock Data

22.51B
207.28M
9.87%
76.26%
1.91%
Investment Banking and Securities Dealing
Finance and Insurance
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United States of America
ST PETERSBURG