Elevation Point Wealth Partners LLC Takes $987,000 Position in Royal Bank Of Canada $RY

Elevation Point Wealth Partners LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,769 shares of the financial services provider’s stock, valued at approximately $987,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC raised its holdings in Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,934 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after buying an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after buying an additional 3,928 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of several research analyst reports. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a research note on Friday. They set a “market perform” rating on the stock. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Down 0.6%

RY stock opened at $203.99 on Tuesday. The company has a market cap of $282.85 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The company has a fifty day moving average price of $208.67 and a 200 day moving average price of $187.02. 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 $136.10 and a 12 month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data 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. 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 the consensus estimate of $12.74 billion. During the same period last year, the firm posted $3.12 EPS. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts expect that Royal Bank Of Canada will post 11.59 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, July 27th were given a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.5%. Royal Bank Of Canada’s payout ratio is presently 44.56%.

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.