AI English summary of an SEC filing — figures as filed
Raymond James Financial RJFThe company set targets at its Analyst & Investor Day of an adjusted compensation ratio below 65%, an adjusted pre-tax margin of 20% or more, an adjusted return on equity of 17% or more, and an adjusted return on tangible common equity of 20% or more. It said the targets assume current stock market and economic conditions, a business size similar to Q2, and a federal funds rate of 5.25% to -5.50%.
Key points
AI summaryThe company set targets at its Analyst & Investor Day of an adjusted compensation ratio below 65%, an adjusted pre-tax margin of 20% or more, an adjusted return on equity of 17% or more, and an adjusted return on tangible common equity of 20% or more. It said the targets assume current stock market and economic conditions, a business size similar to Q2, and a federal funds rate of 5.25% to -5.50%.
Raymond James said that as of March 31, 2024, Private Client Group client assets were $1.4T and it had 8,761 advisors, and that net new assets over the trailing 12 months were $60B. It also put the 5-year CAGR for assets in fee-based accounts at 13%.
The company said that for the 3 months ended March 31, 2024, Bank Segment total assets were $61 billion, loans outstanding were $44.1 billion, the net interest margin was 2.66%, and nonperforming assets as a percentage of total assets were 0.31%.
The company said it has returned about $4.1 billion to shareholders through dividends and share repurchases since FY 2018, and that $1.2 billion remains under its current stock repurchase authorization as of March 31, 2024. The quarterly common stock dividend is $0.45 per share.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Analyst & Investor Day Financial Targets
The company set targets at its Analyst & Investor Day of an adjusted compensation ratio below 65%, an adjusted pre-tax margin of 20% or more, an adjusted return on equity of 17% or more, and an adjusted return on tangible common equity of 20% or more. It said the targets assume current stock market and economic conditions, a business size similar to Q2, and a federal funds rate of 5.25% to -5.50%.
Source · Based on the filing body and exhibits
Private Client Group Client Assets and Net New Assets
Raymond James said that as of March 31, 2024, Private Client Group client assets were $1.4T and it had 8,761 advisors, and that net new assets over the trailing 12 months were $60B. It also put the 5-year CAGR for assets in fee-based accounts at 13%.
Source · Based on the filing body and exhibits
Bank Segment Loans and Net Interest Margin
The company said that for the 3 months ended March 31, 2024, Bank Segment total assets were $61 billion, loans outstanding were $44.1 billion, the net interest margin was 2.66%, and nonperforming assets as a percentage of total assets were 0.31%.
Source · Based on the filing body and exhibits
Shareholder Returns and Buyback Authorization
The company said it has returned about $4.1 billion to shareholders through dividends and share repurchases since FY 2018, and that $1.2 billion remains under its current stock repurchase authorization as of March 31, 2024. The quarterly common stock dividend is $0.45 per share.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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