Turn8 Private Wealth Inc. Has $5.06 Million Holdings in Royal Bank Of Canada $RY

Turn8 Private Wealth Inc. raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,386 shares of the financial services provider’s stock after purchasing an additional 3,455 shares during the period. Royal Bank Of Canada accounts for about 3.2% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 11th largest position. Turn8 Private Wealth Inc.’s holdings in Royal Bank Of Canada were worth $5,059,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Royal Bank Of Canada in the fourth quarter worth approximately $3,472,382,000. Alberta Investment Management Corp bought a new position in Royal Bank Of Canada during the fourth quarter valued at approximately $324,237,000. Quadrature Capital Ltd lifted its stake in Royal Bank Of Canada by 603.1% in the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after acquiring an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Royal Bank Of Canada by 6.9% in the fourth 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.

Royal Bank Of Canada Trading Down 0.1%

Shares of RY stock opened at $204.64 on Friday. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $209.37. The company has a market cap of $284.39 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.62 and a beta of 0.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $191.45 and its two-hundred day moving average is $176.46.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 EPS. Equities analysts predict 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. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Analysts Set New Price Targets

Several research analysts have recently commented on RY shares. 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. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

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.