Peak Planning Group LLC Invests $640,000 in Royal Bank Of Canada $RY

Peak Planning Group LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,755 shares of the financial services provider’s stock, valued at approximately $640,000.

Other hedge funds have also made changes to their positions in the company. Florida Trust Wealth Management Co lifted its position in Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 60 shares during the period. Fiduciary Financial Group LLC lifted its position in Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares during the period. Alta Capital Management LLC lifted its position in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC lifted its position in Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares during the period. Finally, Burney Co. increased its holdings in Royal Bank Of Canada by 1.7% in the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Get Royal Bank Of Canada alerts:

Royal Bank Of Canada Trading Up 0.2%

Shares of Royal Bank Of Canada stock opened at $199.58 on Friday. Royal Bank Of Canada has a 12-month low of $126.02 and a 12-month high of $201.74. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market cap of $277.37 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. The company has a 50-day moving average of $182.12 and a two-hundred day moving average of $171.76.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings data 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. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the company posted $3.12 EPS. The company’s revenue was up 11.4% on a year-over-year basis. On average, research analysts anticipate that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research analyst reports. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a report on Thursday. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Get Our Latest Stock Analysis 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.

Featured Stories

• Five stocks we like better than Royal Bank Of Canada
• SpaceX Rings the Bell and Shatters Every Record
• Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
• 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
• The 127-Gigawatt Problem: Why AI Needs Its Own Power

Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.