Royal Bank Of Canada $RY Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,154 shares of the financial services provider’s stock after buying an additional 3,190 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Royal Bank Of Canada were worth $5,566,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in Royal Bank Of Canada in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC purchased a new stake in Royal Bank Of Canada during the third quarter worth $31,000. CoreCap Advisors LLC grew its holdings in Royal Bank Of Canada by 103.8% in the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $51,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Royal Bank Of Canada by 86.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RY. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday. TD Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Zacks Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. Finally, Jefferies Financial Group lowered Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $169.81 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 cap of $237.32 billion, a PE ratio of 16.93, a P/E/G ratio of 1.22 and a beta of 0.79. The firm has a 50 day simple moving average of $164.03 and a 200-day simple moving average of $149.37. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $174.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $12.12 billion. During the same period in the previous year, the company earned $3.07 EPS. Royal Bank Of Canada’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.9%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 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.