Jefferies Financial Group Inc. Invests $68.71 Million in Royal Bank Of Canada $RY

Jefferies Financial Group Inc. bought a new position in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 403,000 shares of the financial services provider’s stock, valued at approximately $68,707,000.

Other institutional investors have also modified their holdings of the company. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the fourth quarter worth approximately $26,000. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada during the third quarter worth approximately $27,000. Highline Wealth Partners LLC increased its position in shares of Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Royal Bank Of Canada during the third quarter worth approximately $38,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

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Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $189.67 on Friday. The firm has a market cap of $265.11 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.49 and a beta of 0.80. The company’s 50 day moving average is $172.61 and its 200 day moving average is $166.93. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 52-week low of $124.19 and a 52-week high of $190.36.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. Royal Bank Of Canada’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $3.62 earnings per share. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is currently 45.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RY. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Check Out Our Latest Stock Report on Royal Bank Of Canada

About Royal Bank Of Canada

(Free Report)

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.

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