Forsta AP Fonden reduced its stake in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,200 shares of the financial services provider’s stock after selling 2,900 shares during the quarter. Forsta AP Fonden’s holdings in Royal Bank Of Canada were worth $53,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC raised its stake in Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Royal Bank Of Canada in the third quarter valued at approximately $38,000. Finally, Cornerstone Planning Group LLC raised its stake in Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.
Royal Bank Of Canada Trading Up 0.5%
RY stock opened at $189.92 on Friday. The company has a market capitalization of $265.45 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. Royal Bank Of Canada has a one year low of $124.19 and a one year high of $191.51. The company’s 50 day moving average price is $175.27 and its two-hundred day moving average price is $168.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.
Royal Bank Of Canada Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.7%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is 45.17%.
More Royal Bank Of Canada News
Here are the key news stories impacting Royal Bank Of Canada this week:
- Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
- Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
- Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
- Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.00.
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.
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