Tacita Capital Inc Makes New $7.23 Million Investment in Royal Bank Of Canada $RY

Tacita Capital Inc acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 34,999 shares of the financial services provider’s stock, valued at approximately $7,233,000. Royal Bank Of Canada accounts for about 3.9% of Tacita Capital Inc’s investment portfolio, making the stock its 6th largest holding.

Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Royal Bank Of Canada by 18.5% in the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after acquiring an additional 15,046 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after acquiring an additional 368,534 shares during the period. Rathbones Group PLC grew its holdings in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after purchasing an additional 26,782 shares in the last quarter. Indivisible Partners acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth $7,335,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth $49,450,000. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $207.78 on Thursday. Royal Bank Of Canada has a one year low of $135.92 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $288.11 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.68 and a beta of 0.80. The firm has a 50 day simple moving average of $208.34 and a 200 day simple moving average of $186.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 earnings per share. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend 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.