Purpose Unlimited Inc. bought a new position in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 319,743 shares of the financial services provider’s stock, valued at approximately $54,509,000. Royal Bank Of Canada accounts for 2.5% of Purpose Unlimited Inc.’s investment portfolio, making the stock its 10th largest holding.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in Royal Bank Of Canada by 18.5% in the fourth 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 during the period. Fisher Asset Management LLC raised its position in shares of Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares during the period. Rathbones Group PLC raised its position in shares of Royal Bank Of Canada by 9.0% during the fourth 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 during the period. Legal & General Group Plc lifted its holdings in shares of Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Royal Bank Of Canada by 0.8% during the 3rd quarter. APG Asset Management N.V. now owns 919,463 shares of the financial services provider’s stock valued at $135,455,000 after purchasing an additional 7,400 shares in the last quarter. 45.31% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $225.00.
Royal Bank Of Canada Trading Up 0.0%
Royal Bank Of Canada stock opened at $201.66 on Friday. The company has a market cap of $280.25 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.59 and a beta of 0.81. The firm has a 50-day moving average of $185.68 and a 200-day moving average of $173.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $202.90.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the business earned $3.12 earnings per share. Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.
Royal Bank Of Canada Increases Dividend
The business 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 $1.76 dividend. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 42.41%.
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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