Royal Bank Of Canada $RY Shares Purchased by Rathbones Group PLC

Rathbones Group PLC boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,014 shares of the financial services provider’s stock after purchasing an additional 26,782 shares during the quarter. Rathbones Group PLC’s holdings in Royal Bank Of Canada were worth $55,480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Reliant Investment Partners LLC acquired a new position in Royal Bank Of Canada in the fourth quarter worth $221,000. IFP Advisors Inc lifted its stake in Royal Bank Of Canada by 47.2% in the fourth quarter. IFP Advisors Inc now owns 936 shares of the financial services provider’s stock valued at $160,000 after buying an additional 300 shares during the last quarter. Midwest Professional Planners LTD. lifted its stake in Royal Bank Of Canada by 9.0% in the fourth quarter. Midwest Professional Planners LTD. now owns 16,000 shares of the financial services provider’s stock valued at $2,728,000 after buying an additional 1,326 shares during the last quarter. Harvest Portfolios Group Inc. lifted its stake in Royal Bank Of Canada by 37.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 138,548 shares of the financial services provider’s stock valued at $23,619,000 after buying an additional 37,481 shares during the last quarter. Finally, Muirfield Wealth Advisors LLC lifted its stake in Royal Bank Of Canada by 0.6% in the fourth quarter. Muirfield Wealth Advisors LLC now owns 17,144 shares of the financial services provider’s stock valued at $2,923,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $187.20 on Thursday. Royal Bank Of Canada has a fifty-two week low of $124.19 and a fifty-two week high of $187.63. The firm’s 50-day simple moving average is $171.64 and its 200 day simple moving average is $166.47. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market cap of $261.65 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.39 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. During the same period in the previous year, the business earned $3.62 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Royal Bank Of Canada will post 11.53 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is currently 45.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Weiss Ratings cut Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.