Royal Bank Of Canada $RY Shares Purchased by Logan Capital Management Inc.

Logan Capital Management Inc. boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 11.2% 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 47,353 shares of the financial services provider’s stock after purchasing an additional 4,788 shares during the quarter. Logan Capital Management Inc.’s holdings in Royal Bank Of Canada were worth $8,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada during the 4th quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada in the third quarter valued at $27,000. Highline Wealth Partners LLC lifted its stake in Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.8%

RY stock opened at $199.16 on Friday. The firm’s 50-day moving average is $181.40 and its two-hundred day moving average is $171.56. The company has a market capitalization of $276.79 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.56 and a beta of 0.81. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $200.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the business earned $3.12 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts forecast that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

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.