Cetera Investment Advisers Has $12.52 Million Stake in Royal Bank Of Canada $RY

Cetera Investment Advisers raised its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 11.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 77,412 shares of the financial services provider’s stock after acquiring an additional 8,032 shares during the quarter. Cetera Investment Advisers’ holdings in Royal Bank Of Canada were worth $12,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the 4th quarter valued at approximately $25,000. Key Financial Inc grew its holdings in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada during the third quarter valued at approximately $27,000. Maseco LLP raised its position in shares of Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the period. Finally, Highline Wealth Partners LLC raised its position in shares of 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 during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RY shares. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Trading Down 2.9%

Royal Bank Of Canada stock opened at $206.22 on Thursday. The business has a 50 day moving average price of $202.37 and a two-hundred day moving average price of $181.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $218.57. The stock has a market cap of $285.94 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data 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. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.12 earnings per share. As a group, equities analysts forecast that Royal Bank Of Canada will post 11.45 EPS 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. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. 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. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada’s payout ratio is presently 44.56%.

Royal Bank Of Canada 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.