4,605 Shares in Royal Bank Of Canada $RY Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the first quarter, HoldingsChannel reports. The firm acquired 4,605 shares of the financial services provider’s stock, valued at approximately $745,000.

Several other large investors have also recently made changes to their positions in RY. Harvest Fund Management Co. Ltd purchased a new position in Royal Bank Of Canada during the 4th quarter valued at approximately $25,000. Tradewinds Capital Management LLC bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at approximately $26,000. Key Financial Inc grew its holdings in shares of Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada in the third quarter valued at $27,000. Finally, Maseco LLP increased its position in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RY shares. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY opened at $209.19 on Wednesday. The firm’s 50 day simple moving average is $192.78 and its 200-day simple moving average is $177.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $209.64. The firm has a market cap of $290.72 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.12 EPS. As a group, equities analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 42.41%.

Royal Bank Of Canada 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.