Royal Bank Of Canada $RY Stake Lifted by Rathbones Group PLC

Rathbones Group PLC boosted its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,711 shares of the financial services provider’s stock after buying an additional 14,697 shares during the period. Rathbones Group PLC’s holdings in Royal Bank Of Canada were worth $54,741,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the fourth quarter valued at $25,000. Key Financial Inc increased its holdings 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 worth $26,000 after acquiring an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth about $27,000. Maseco LLP lifted its position in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Down 0.0%

Royal Bank Of Canada stock opened at $209.44 on Monday. The stock has a market cap of $290.41 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.66 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $203.19 and its two-hundred day moving average price is $182.27. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.12 EPS. On average, analysts expect that Royal Bank Of Canada will post 11.41 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 44.47%.

Analyst Upgrades and Downgrades

RY has been the subject of several recent analyst reports. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

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.