Royal Bank Of Canada $RY Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,055,401 shares of the financial services provider’s stock after purchasing an additional 292,105 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Royal Bank Of Canada worth $180,410,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RY. Harvest Fund Management Co. Ltd acquired a new position in Royal Bank Of Canada during the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada in the fourth quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the third quarter worth about $27,000. Highline Wealth Partners LLC grew its stake in shares of Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $201.02 on Wednesday. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $201.74. 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 stock has a market cap of $279.37 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. The business has a 50-day simple moving average of $183.58 and a 200-day simple moving average of $172.58.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the business earned $3.12 earnings per share. Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 11.52 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is a positive change 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 dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average 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.