HighTower Advisors LLC Has $16.41 Million Stock Holdings in Royal Bank Of Canada $RY

HighTower Advisors LLC raised its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,234 shares of the financial services provider’s stock after purchasing an additional 15,046 shares during the period. HighTower Advisors LLC’s holdings in Royal Bank Of Canada were worth $16,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter worth $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the third quarter worth $27,000. Highline Wealth Partners LLC grew its stake in shares of 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 worth $35,000 after acquiring an additional 89 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Royal Bank Of Canada in the third quarter worth $38,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the topic of several research analyst reports. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Up 0.3%

Shares of RY stock opened at $189.67 on Friday. The stock has a market cap of $265.11 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.49 and a beta of 0.80. Royal Bank Of Canada has a one year low of $124.19 and a one year high of $190.36. The stock has a fifty day moving average price of $172.61 and a 200 day moving average price of $166.93. 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 earnings results on Thursday, February 26th. The financial services provider reported $2.94 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $3.62 earnings per share. Analysts predict that Royal Bank Of Canada will post 11.53 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Thursday, April 23rd were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is 45.07%.

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.