Focus Partners Advisor Solutions LLC Takes $2.61 Million Position in Royal Bank Of Canada $RY

Focus Partners Advisor Solutions LLC acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,609 shares of the financial services provider’s stock, valued at approximately $2,610,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter worth $25,000. Key Financial Inc lifted its stake in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at $27,000. Maseco LLP boosted its holdings 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 worth $29,000 after buying an additional 142 shares during the period. Finally, Cornerstone Planning Group LLC boosted its holdings 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 worth $41,000 after buying an additional 88 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RY shares. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

RY opened at $216.67 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $300.44 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.71 and a beta of 0.80. The company has a fifty day moving average of $207.42 and a 200 day moving average of $185.19. Royal Bank Of Canada has a fifty-two week low of $135.92 and a fifty-two week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the company earned $3.12 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.2%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 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.