Raymond James Financial, Inc. - RJF STOCK NEWS

Raymond James survey reveals priorities and concerns around transferring wealth to the next generation

Raymond James Financial declares quarterly cash dividend of $0.42 per share on common stock and $0.3984375 per depositary share on preferred stock.

ReGen III Corp. has entered into a co-advisory agreement with Raymond James & Associates, Inc. and National Bank Financial Inc. to pursue project-level acquisition opportunities. The goal is to increase market share, accelerate revenues, and generate economies of scale. Raymond James will assist in identifying and completing acquisitions and joint ventures. NBF will lead project-level financing efforts for the development of the Texas re-refining facility. ReGen III also granted stock options to Christine O'Grady, the new EVP of Supply, Origination, and Business Development.

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.