Abacus Wealth Partners LLC Takes $925,000 Position in Royal Bank Of Canada $RY

Abacus Wealth Partners LLC bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, HoldingsChannel reports. The firm bought 5,423 shares of the financial services provider’s stock, valued at approximately $925,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RY. Canerector Inc. raised its stake in Royal Bank Of Canada by 20,412.0% during 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 buying an additional 13,267,800 shares during the last quarter. Quadrature Capital Ltd raised its stake in Royal Bank Of Canada by 603.1% during the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after buying an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. raised its stake 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 valued at $9,777,472,000 after buying an additional 1,329,637 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Royal Bank Of Canada by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after buying an additional 740,276 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Royal Bank Of Canada by 342.7% during the third quarter. Two Sigma Investments LP now owns 543,320 shares of the financial services provider’s stock valued at $80,042,000 after buying an additional 420,595 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.2%

Royal Bank Of Canada stock opened at $183.37 on Friday. The firm has a market cap of $256.30 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.38 and a beta of 0.80. The stock has a fifty day simple moving average of $170.36 and a two-hundred day simple moving average of $165.55. Royal Bank Of Canada has a 12 month low of $124.19 and a 12 month high of $183.87. 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 (NYSE:RY) (TSE:RY) last posted its 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. The business had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.62 EPS. Equities analysts predict that Royal Bank Of Canada will post 11.57 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 3.6%. Royal Bank Of Canada’s payout ratio is presently 45.17%.

Analyst Upgrades and Downgrades

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

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.