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Raymond James Financial Inc RJF Stock Quote

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Morningstar‘s Stock Analysis RJF

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Capital Allocation


Raymond James’ Large Wealth Management Business Leading to Outperformance; Shares Fairly Valued

Michael Wong, CFA, CPA Sector Director

Analyst Note

| Michael Wong, CFA, CPA |

Raymond James' large wealth management and related banking business are leading to outperformance compared with peers. The company reported net income to common shareholders of $437 million, or $1.98 per diluted share, on a record $2.8 billion of net revenue for its fourth fiscal quarter ended in September. Over 75% of the company's net revenue is from its wealth management and banking businesses that benefit from rising interest rates, so the disruption in the economy affecting capital markets has had only a moderate effect on total revenue. We don't anticipate making a material change to our $100 fair value estimate for no moat-rated Raymond James Financial and assess shares are fairly valued.

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Key Statistics RJF

Company Profile RJF

Business Description

Raymond James Financial is a financial holding company whose major operations include wealth management, investment banking, asset management, and commercial banking. The company has more than 14,000 employees and supports more than 5,000 independent contractor financial advisors across the United States, Canada, and the United Kingdom. Approximately 90% of the company's revenue is from the U.S. and 70% is from the company's wealth-management segment.

880 Carillon Parkway
Saint Petersburg, FL, 33716
T +1 727 567-1000
Industry Capital Markets
Most Recent Earnings Sep 30, 2022
Fiscal Year End Sep 30, 2023
Employees 17,000

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