Raymond James’ Operating-Margin-Expansion Thesis Is Evident In the Fiscal Fourth Quarter
Raymond James’ fiscal fourth quarter-ending in September is proof of our operating-margin-expansion thesis for the company. The company reported net income of $172 million, or $1.19 per diluted share, on $1.46 billion of net revenue in the recent quarter. This was a 9% increase in revenue and 33% increase in net income from the previous year. While revenue was somewhat inflated by the company’s acquisitions of Alex. Brown and 3Macs in the quarter and net income had a tax benefit, the adjusted pr...Raymond James Financial is a bank holding company and financial holding company. Through its subsidiaries, the company is engaged in financial services activities. The company's segments include: Private Client Group, which provides financial planning and securities transaction services through a branch office network; Capital Markets, which conducts institutional sales, securities trading, equity research, investment banking and the syndication and management of investments that qualify for tax credits; Asset Management, which provides portfolio management and related administrative services for retail and institutional clients; and Raymond James Bank, N.A., which provides loans such as corporate loans.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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