Capital World Investors Purchases 668,620 Shares of Royal Bank Of Canada $RY

Capital World Investors increased its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2,879.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 691,838 shares of the financial services provider’s stock after acquiring an additional 668,620 shares during the quarter. Capital World Investors’ holdings in Royal Bank Of Canada were worth $117,943,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RY. Florida Trust Wealth Management Co lifted its stake in Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 60 shares during the period. Fiduciary Financial Group LLC lifted its stake in Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 61 shares during the period. Alta Capital Management LLC lifted its stake in Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Royal Bank Of Canada by 1.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 74 shares during the period. Finally, Burney Co. lifted its stake in Royal Bank Of Canada by 1.7% during the 4th quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 76 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RY. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial cut 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 report on Friday, May 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $195.34 on Tuesday. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $196.53. The firm has a market capitalization of $271.47 billion, a P/E ratio of 17.55, a PEG ratio of 1.53 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $179.06 and a 200-day moving average price of $170.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 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.