In addition to the sale, Tashtego reported the acquisition of 2,982 shares on December 15 through the vesting of Restricted Stock Units (RSUs), which were originally granted in 2021. These RSUs were part of a broader compensation package and were acquired at no cost. Following the vesting, he disposed of 1,173 shares to cover tax liabilities associated with the transaction.The report also detailed Tashtego's holdings in various indirect ownership capacities, including shares held under an Employee Stock Ownership Plan and as a custodian for his children. These transactions and holdings reflect a mix of strategic financial planning and compliance with compensation structures at Raymond James Financial (NYSE:RJF), a company that has maintained dividend payments for 40 consecutive years and received a "GREAT" financial health score from InvestingPro, which offers comprehensive research reports covering 1,400+ US stocks.
In addition to the sale, Tashtego reported the acquisition of 2,982 shares on December 15 through the vesting of Restricted Stock Units (RSUs), which were originally granted in 2021. These RSUs were part of a broader compensation package and were acquired at no cost. Following the vesting, he disposed of 1,173 shares to cover tax liabilities associated with the transaction.
The report also detailed Tashtego’s holdings in various indirect ownership capacities, including shares held under an Employee Stock Ownership Plan and as a custodian for his children. These transactions and holdings reflect a mix of strategic financial planning and compliance with compensation structures at Raymond (NS:RYMD) James Financial.
In other recent news, Raymond James Financial has reported record fourth-quarter revenues of $3.46 billion, along with a net income of $601 million, primarily driven by a surge in advisory revenue and a robust investment banking performance. The company's total client assets have reached a record $1.57 trillion, with net new assets of $60.7 billion domestically for the year.
The company's board of directors declared a quarterly cash dividend of $0.50 per share on its common stock, an 11.1% increase from the prior dividend. Additionally, Raymond James authorized a new stock repurchase program, with the potential to buy back shares up to an aggregate amount of $1.5 billion.
Several analyst firms have adjusted their outlooks on Raymond James following these results. TD Cowen maintained a Hold rating but increased the price target to $150.00. BofA Securities and Citi also raised their price targets to $152 and $145, respectively.
Looking ahead, Raymond James anticipates an additional $5 billion in outflows in the first quarter due to the offboarding of an Office of Supervisory Jurisdiction. However, BofA expects net new assets to normalize, projecting a 5-7% growth rate for the following year. Raymond James maintains an optimistic outlook for fiscal 2025, expecting growth driven by increases in assets and fee-based accounts.
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