Kingsman Wealth Management Inc. Takes $482,000 Position in Royal Bank Of Canada $RY

Kingsman Wealth Management Inc. acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 3,270 shares of the financial services provider’s stock, valued at approximately $482,000.

Other large investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada in the third quarter valued at $29,000. Roxbury Financial LLC raised its position in shares of Royal Bank Of Canada by 44.3% during 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 in the last quarter. Smartleaf Asset Management LLC raised its position 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 acquiring an additional 180 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Royal Bank Of Canada during the second quarter worth approximately $51,000. Finally, Financial Management Professionals Inc. boosted its holdings in Royal Bank Of Canada by 29.2% in the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RY. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report 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 research report on Monday, December 1st. Jefferies Financial Group cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. Finally, CIBC cut Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $171.70 on Wednesday. The stock’s 50-day moving average price is $155.87 and its 200 day moving average price is $144.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $240.46 billion, a PE ratio of 17.12, a price-to-earnings-growth 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 $172.38.

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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $3.07 EPS. As a group, equities research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Monday, January 26th. This represents a $6.56 annualized dividend and a yield of 3.8%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is presently 46.76%.

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.