Simplicity Wealth LLC Acquires Shares of 3,497 Royal Bank Of Canada $RY

Simplicity Wealth LLC bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,497 shares of the financial services provider’s stock, valued at approximately $724,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Echo45 Advisors LLC lifted its holdings in Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 60 shares during the period. Key Financial Inc grew its stake in Royal Bank Of Canada by 63.0% in the 1st 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 period. Apella Capital LLC grew its stake in Royal Bank Of Canada by 3.1% in the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 64 shares during the period. Alta Capital Management LLC increased its position in shares of Royal Bank Of Canada by 4.0% during the 4th 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 during the last quarter. Finally, Fiduciary Financial Group LLC increased its position in shares of Royal Bank Of Canada by 3.5% during the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 68 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RY has been the subject of several research analyst reports. 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 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Down 0.2%

Shares of NYSE RY opened at $216.19 on Tuesday. Royal Bank Of Canada has a 52 week low of $135.92 and a 52 week high of $218.57. The business has a 50-day simple moving average of $207.83 and a two-hundred day simple moving average of $185.66. 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 company has a market cap of $299.77 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.71 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results 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 net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same period in the previous year, the business earned $3.12 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts anticipate that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 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.