319,743 Shares in Royal Bank Of Canada $RY Purchased by Purpose Unlimited Inc.

Purpose Unlimited Inc. purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 319,743 shares of the financial services provider’s stock, valued at approximately $54,509,000. Royal Bank Of Canada comprises about 2.5% of Purpose Unlimited Inc.’s investment portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RY. Vanguard Group Inc. grew its stake in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after buying an additional 1,290,142 shares during the last quarter. FIL Ltd raised its stake in shares of Royal Bank Of Canada by 1.1% in the fourth quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after acquiring an additional 255,465 shares during the last quarter. Norges Bank bought a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $3,472,382,000. Bank of Nova Scotia boosted its holdings in shares of Royal Bank Of Canada by 1.6% in the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after acquiring an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Royal Bank Of Canada by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on RY. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 target price on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. One equities 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Up 0.0%

Shares of Royal Bank Of Canada stock opened at $201.66 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12 month low of $126.02 and a 12 month high of $202.90. The business has a fifty day simple moving average of $185.68 and a 200 day simple moving average of $173.44. The stock has a market cap of $280.25 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.59 and a beta of 0.81.

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 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 during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the company posted $3.12 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current 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. 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 (DPR) is currently 42.41%.

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.