2,382 Shares in Royal Bank Of Canada $RY Purchased by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,382 shares of the financial services provider’s stock, valued at approximately $498,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Royal Bank Of Canada during the 4th quarter worth $3,472,382,000. Alberta Investment Management Corp acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at about $324,237,000. Assenagon Asset Management S.A. boosted its holdings in Royal Bank Of Canada by 3,329.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,589,605 shares of the financial services provider’s stock worth $329,002,000 after buying an additional 1,543,260 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Royal Bank Of Canada during the second quarter worth about $281,071,000. Finally, Vanguard Group Inc. grew its position in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after buying an additional 1,290,142 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RY. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Trading Down 0.2%

Shares of Royal Bank Of Canada stock opened at $216.19 on Tuesday. 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 1 year low of $135.92 and a 1 year high of $218.57. The company has a market capitalization of $299.77 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.71 and a beta of 0.80. The business has a 50 day moving average price of $207.83 and a 200 day moving average price of $185.66.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.12 EPS. Sell-side analysts anticipate that Royal Bank Of Canada will post 11.47 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. The ex-dividend date of this dividend is Monday, July 27th. This is an increase 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 3.3%. Royal Bank Of Canada’s dividend payout ratio is 44.56%.

About Royal Bank Of Canada

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.