Ferguson Wellman Capital Management Inc. Acquires New Stake in Royal Bank Of Canada $RY

Ferguson Wellman Capital Management Inc. bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,216 shares of the financial services provider’s stock, valued at approximately $1,006,000.

A number of other institutional investors have also added to or reduced their stakes in RY. Florida Trust Wealth Management Co boosted its position in shares of 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 last quarter. Echo45 Advisors LLC increased its position in shares of Royal Bank Of Canada by 5.0% in the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 60 shares during the last quarter. Fiduciary Financial Group LLC increased its position in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 61 shares during the last quarter. Key Financial Inc raised its stake in Royal Bank Of Canada by 63.0% in 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 in the last quarter. Finally, Alta Capital Management LLC raised its stake in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Down 0.0%

Shares of RY opened at $211.08 on Monday. The firm has a market cap of $293.34 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.67 and a beta of 0.80. The stock has a 50 day simple moving average of $194.71 and a two-hundred day simple moving average of $177.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $211.39.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for 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%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $3.12 earnings per share. On average, analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 44.47%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RY. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. 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. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and an average 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.