Rathbones Group PLC Boosts Stake in Royal Bank Of Canada $RY

Rathbones Group PLC lifted its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 325,014 shares of the financial services provider’s stock after purchasing an additional 26,782 shares during the quarter. Rathbones Group PLC’s holdings in Royal Bank Of Canada were worth $55,480,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Royal Bank Of Canada by 2.0% during the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after buying an additional 1,329,637 shares during the period. Canerector Inc. boosted its holdings in shares of Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after acquiring an additional 13,267,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Royal Bank Of Canada by 3.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock worth $1,642,712,000 after acquiring an additional 338,575 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Royal Bank Of Canada by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after acquiring an additional 287,504 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Royal Bank Of Canada by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after acquiring an additional 740,276 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RY shares. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Finally, Raymond James Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Performance

RY opened at $163.43 on Monday. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $176.19. The stock has a market cap of $228.42 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.23 and a beta of 0.78. The stock’s 50 day simple moving average is $166.45 and its 200 day simple moving average is $159.73. 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 data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.13. The firm had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.Royal Bank Of Canada’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.62 earnings per share. As a group, equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is 45.74%.

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.