Godsey & Gibb Inc. Has $29.43 Million Position in Royal Bank Of Canada $RY

Godsey & Gibb Inc. trimmed its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 181,933 shares of the financial services provider’s stock after selling 12,398 shares during the period. Royal Bank Of Canada comprises about 2.6% of Godsey & Gibb Inc.’s portfolio, making the stock its 7th biggest holding. Godsey & Gibb Inc.’s holdings in Royal Bank Of Canada were worth $29,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Royal Bank Of Canada during the 4th quarter valued at about $3,472,382,000. Canerector Inc. lifted its holdings in Royal Bank Of Canada by 20,412.0% in the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Royal Bank Of Canada during the fourth quarter worth approximately $324,237,000. Quadrature Capital Ltd boosted its position 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 worth $257,183,000 after purchasing an additional 1,498,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 valued at $11,529,165,000 after purchasing an additional 1,290,142 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.0%

Shares of Royal Bank Of Canada stock opened at $202.73 on Wednesday. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $203.29. The company’s fifty day simple moving average is $186.93 and its 200-day simple moving average is $174.25. The company has a market cap of $281.74 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.60 and a beta of 0.81. 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 issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion during 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 17.83%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.12 EPS. As a group, sell-side analysts expect that Royal Bank Of Canada will post 11.52 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. The ex-dividend date is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RY shares. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Scotiabank reaffirmed 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 assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

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.