Gibbs Wealth Management grew its position in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 29.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,174 shares of the financial services provider’s stock after acquiring an additional 3,472 shares during the period. Gibbs Wealth Management’s holdings in Royal Bank Of Canada were worth $2,455,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of RY. HighTower Advisors LLC raised its position in shares of Royal Bank Of Canada by 18.5% in the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after acquiring an additional 15,046 shares in the last quarter. Fisher Asset Management LLC increased its position in Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after buying an additional 368,534 shares in the last quarter. Rathbones Group PLC raised its stake in 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 valued at $55,480,000 after buying an additional 26,782 shares during the last quarter. Indivisible Partners purchased a new position in Royal Bank Of Canada during the fourth quarter valued at $7,335,000. Finally, MUFG Securities EMEA plc bought a new stake in Royal Bank Of Canada in the fourth quarter worth $49,450,000. 45.31% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on RY. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Finally, Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.
Royal Bank Of Canada Stock Down 1.4%
RY stock opened at $208.40 on Friday. The stock has a market capitalization of $288.97 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1-year low of $127.38 and a 1-year high of $218.57. The business has a fifty day moving average price of $200.41 and a 200-day moving average price of $180.62.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period last year, the company earned $3.12 EPS. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts forecast that Royal Bank Of Canada will post 11.45 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. Stockholders of record on Monday, July 27th will be paid a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.
Royal Bank Of Canada Company Profile
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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