Legal & General Group Plc Acquires 498,511 Shares of Royal Bank Of Canada $RY

Legal & General Group Plc raised its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,773,645 shares of the financial services provider’s stock after purchasing an additional 498,511 shares during the period. Legal & General Group Plc’s holdings in Royal Bank Of Canada were worth $1,497,675,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Florida Trust Wealth Management Co increased its stake in shares of Royal Bank Of Canada by 2.8% during the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 60 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in shares of Royal Bank Of Canada by 3.4% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. Alta Capital Management LLC increased its stake in shares of Royal Bank Of Canada by 4.0% during the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Royal Bank Of Canada by 1.5% during the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the subject of several analyst reports. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Trading Down 0.0%

Shares of Royal Bank Of Canada stock opened at $189.67 on Monday. The company’s fifty day simple moving average is $172.61 and its 200-day simple moving average is $167.07. The stock has a market capitalization of $265.11 billion, a PE ratio of 18.15, a P/E/G ratio of 1.49 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $124.19 and a 1-year high of $190.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.62 EPS. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.53 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

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

Royal Bank Of Canada Company Profile

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.