0000720005false00007200052024-03-202024-03-200000720005us-gaap:CommonStockMember2024-03-202024-03-200000720005rjf:DepositarySharesSeriesBMember2024-03-202024-03-20
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
March 20, 2024
Date of Report (date of earliest event reported)
RAYMOND JAMES FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida |
1-9109 |
59-1517485 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
|
|
|
880 Carillon Parkway |
St. Petersburg |
Florida |
33716 |
|
(Address of principal executive offices) |
|
(Zip Code) |
|
(727) 567-1000
(Registrant’s telephone number, including area code)
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Exchange Act:
|
|
|
|
|
|
|
|
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, $.01 par value |
RJF |
New York Stock Exchange |
Depositary Shares, Each Representing a 1/40th Interest in a Share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock |
RJF PrB |
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 7.01 Regulation FD Disclosure
On March 20, 2024, Raymond James Financial, Inc. (the “Company”) issued a press release to disclose its operating data for February 2024. A copy of this press release is attached to this Current Report as Exhibit 99.1 and is incorporated herein by reference.
The information in this Current Report, including any exhibits hereto, is being “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing of the Company with the Securities and Exchange Commission, whether made before or after the date hereof, regardless of any general incorporation language in such filings (unless the Company specifically states that the information or exhibit in this particular report is incorporated by reference).
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. The following are filed as exhibits to this report:
Exhibit No.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
RAYMOND JAMES FINANCIAL, INC. |
|
|
|
|
Date: March 20, 2024 |
By: |
/s/ Paul M. Shoukry |
|
|
Paul M. Shoukry |
|
|
President and Chief Financial Officer |
|
|
|
|
|
|
EX-99.1
2
exhibit991rjf2024febopdata.htm
EX-99.1 PRESS RELEASE DATED MARCH 20, 2024
Document
|
|
|
|
|
|
|
|
|
March 20, 2024 |
|
FOR IMMEDIATE RELEASE |
|
|
Media Contact: Steve Hollister, 727.567.2824 |
|
|
Investor Contact: Kristina Waugh, 727.567.7654 |
|
|
raymondjames.com/news-and-media/press-releases |
RAYMOND JAMES FINANCIAL REPORTS FEBRUARY 2024 OPERATING DATA
ST. PETERSBURG, Fla. - Raymond James Financial, Inc. (NYSE: RJF) today reported selected operating data for February 2024, in an effort to provide timely information to investors about monthly developments in certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.
“Strong advisor retention and recruiting results, combined with equity market appreciation drove record client assets under administration of $1.42 trillion,” said Chair and CEO Paul Reilly. “Clients’ domestic cash sweep and Enhanced Savings Program (ESP) balances grew 13% year-over-year and 1% over the preceding month. During the month, cash sweep balances increased to $43.2 billion and ESP balances increased to $15.0 billion. Investment banking pipelines remain healthy, and we started to experience an improvement in closings in February.”
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
% change from |
$ in billions |
|
February 29, 2024 |
|
February 28, 2023 |
|
January 31, 2024 |
|
February 28, 2023 |
|
January 31, 2024 |
Client assets under administration |
|
$ |
1,416.1 |
|
|
$ |
1,204.3 |
|
|
$ |
1,376.9 |
|
|
18% |
|
3% |
Private Client Group assets under administration |
|
$ |
1,357.6 |
|
|
$ |
1,148.8 |
|
|
$ |
1,317.7 |
|
|
18% |
|
3% |
Private Client Group assets in fee-based accounts |
|
$ |
775.4 |
|
|
$ |
654.0 |
|
|
$ |
751.2 |
|
|
19% |
|
3% |
Financial assets under management |
|
$ |
220.5 |
|
|
$ |
190.6 |
|
|
$ |
214.9 |
|
|
16% |
|
3% |
|
|
|
|
|
|
|
|
|
|
|
Bank loans, net |
|
$ |
44.0 |
|
|
$ |
43.6 |
|
|
$ |
44.0 |
|
|
1% |
|
—% |
|
|
|
|
|
|
|
|
|
|
|
Clients' domestic cash sweep and Enhanced Savings Program balances |
|
$ |
58.2 |
|
|
$ |
51.7 |
|
|
$ |
57.5 |
|
|
13% |
|
1% |
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,700 financial advisors. Total client assets are $1.42 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.