Raymond James Stock Price, News & Analysis

Raymond James Financial reported record net revenues of $2.87 billion for the fiscal second quarter ended March 31, 2023, reflecting a 7% increase year-over-year. The net income available to common shareholders was $425 million or $1.93 per diluted share, which marks a 32% increase from the same quarter last year. The firm experienced net new assets in the Private Client Group totaling $21.5 billion, achieving an annualized growth rate of 8.4%. For the first half of fiscal 2023, net revenues reached $5.66 billion, and record earnings per diluted share rose 17% to $4.23. Despite increased net interest income, challenges were observed in investment banking revenues and asset management fees. The firm maintained strong capital ratios with a total capital ratio of 21.4%.

Humana Inc. (NYSE: HUM) announced a new $40 million investment, raising its total commitment to affordable housing to $90 million. This funding aims to enhance housing stability for vulnerable communities across the U.S., including states such as Arizona, Florida, and Texas. Humana's affordable housing program is designed to provide low-cost rental options, addressing health-related social needs, and ultimately reducing healthcare costs. The initiative focuses on three key areas: preventing homelessness, supporting individuals with significant health issues, and boosting community capacity. Humana’s collaboration with Raymond James Affordable Housing Investments aims to create a healthier living environment for many Americans.

Lisa Detanna, Managing Director at the Global Wealth Solutions Group of Raymond James, featured on Forbes' list of America’s Top Women Wealth Advisors. This recognition, released on February 2, 2023, acknowledges exceptional advisors based on qualitative and quantitative data, evaluating factors such as revenue trends and compliance records. The ranking is derived from over 38,000 nominations, with only 100 women recognized. Detanna brings over 30 years of experience in financial services, emphasizing wealth literacy through her Money Smarts program. Raymond James, a diversified financial services leader, manages approximately $1.17 trillion in client assets.

On March 3, 2023, Raymond James Financial (NYSE: RJF) announced its plan to redeem all 40,250 shares of its 6.75% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock on April 3, 2023. The redemption price will be $1,000.00 per share. This event coincides with the scheduled dividend payment, which will be issued separately to shareholders of record by March 15, 2023. The Series A Depositary Shares will also be redeemed in accordance with the procedures of The Depository Trust Company. Raymond James Financial has obtained all necessary approvals for this redemption.

On February 24, 2023, Raymond James Financial, Inc. (NYSE: RJF) announced a quarterly cash dividend of $0.42 per share, payable on April 17, 2023, to shareholders of record by April 3, 2023. Additionally, the Board declared dividends of $0.421875 for Series A Preferred Stock and $0.3984375 for Series B Preferred Stock, payable on April 3, 2023, to shareholders recorded by March 15, 2023. The company serves individuals, corporations, and municipalities with approximately 8,700 financial advisors and total client assets of $1.22 trillion.

Lisa Detanna, Managing Director at Raymond James & Associates, has been recognized in Barron’s list of the Top 1,200 Financial Advisors for 2022. This prestigious listing, published on March 11, 2022, evaluates advisors based on criteria such as assets under management, revenue, regulatory record, and quality of practice.

Detanna brings over 30 years of experience in financial services, focusing on high-net-worth clients and family offices. She is dedicated to enhancing family conversations about wealth management.

Raymond James, a leader in financial planning, has approximately $1.25 trillion in total client assets.