Old North State Wealth Management LLC Makes New $611,000 Investment in Royal Bank Of Canada $RY

Old North State Wealth Management LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,150 shares of the financial services provider’s stock, valued at approximately $611,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in Royal Bank Of Canada during the 3rd quarter valued at about $29,000. Roxbury Financial LLC lifted its stake in shares of Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 104 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Royal Bank Of Canada by 86.5% in the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 180 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Royal Bank Of Canada during the second quarter valued at approximately $51,000. Finally, Financial Management Professionals Inc. increased its stake in shares of Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 98 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Natl Bk Canada raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Up 0.1%

RY stock opened at $171.38 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $240.02 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.23 and a beta of 0.80. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $171.84. The company’s 50 day simple moving average is $154.87 and its 200-day simple moving average is $143.73.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same quarter last year, the business posted $3.07 EPS. The company’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be issued a dividend of $1.64 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio is presently 44.07%.

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.