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

Rathbones Group PLC lifted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 339,711 shares of the financial services provider’s stock after acquiring an additional 14,697 shares during the quarter. Rathbones Group PLC’s holdings in Royal Bank Of Canada were worth $54,741,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $25,000. Key Financial Inc raised its position in shares of Royal Bank Of Canada by 63.0% in the 1st 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 during the 3rd quarter valued at approximately $27,000. Maseco LLP boosted its stake in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position 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 worth $41,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $209.44 on Monday. The company has a market cap of $290.41 billion, a PE ratio of 18.82, a P/E/G ratio of 1.66 and a beta of 0.80. The company has a fifty day moving average price of $203.19 and a two-hundred day moving average price of $182.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $218.57.

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 for the quarter, topping 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 17.68%. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the prior year, the company earned $3.12 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Royal Bank Of Canada will post 11.41 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 44.47%.

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.