Gradient Investments LLC Has $2.04 Million Stake in Royal Bank Of Canada $RY

Gradient Investments LLC boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 46.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,975 shares of the financial services provider’s stock after buying an additional 3,819 shares during the period. Gradient Investments LLC’s holdings in Royal Bank Of Canada were worth $2,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Canada Pension Plan Investment Board raised its position in Royal Bank Of Canada by 8.2% in the second quarter. Canada Pension Plan Investment Board now owns 6,867,900 shares of the financial services provider’s stock worth $905,726,000 after purchasing an additional 521,132 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Royal Bank Of Canada by 289.6% during the third quarter. Vontobel Holding Ltd. now owns 358,695 shares of the financial services provider’s stock worth $52,856,000 after purchasing an additional 266,636 shares during the period. Osaic Holdings Inc. boosted its holdings in Royal Bank Of Canada by 104.6% during the second quarter. Osaic Holdings Inc. now owns 75,866 shares of the financial services provider’s stock valued at $9,136,000 after purchasing an additional 38,794 shares in the last quarter. Truist Financial Corp boosted its holdings in Royal Bank Of Canada by 10.6% during the third quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock valued at $14,905,000 after purchasing an additional 9,677 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Royal Bank Of Canada by 2.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock valued at $50,824,000 after purchasing an additional 7,278 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $161.82 on Tuesday. The stock has a market capitalization of $226.17 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19. The firm has a 50 day moving average of $167.78 and a 200-day moving average of $158.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same period in the prior year, the company earned $3.62 EPS. Royal Bank Of Canada’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 4.1%. Royal Bank Of Canada’s payout ratio is currently 45.93%.

Wall Street Analysts Forecast Growth

RY has been the subject of several analyst reports. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Jefferies Financial Group lowered Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, TD Securities upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

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.