Perigon Wealth Management LLC Buys Shares of 2,702 Royal Bank Of Canada $RY

Perigon Wealth Management LLC purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,702 shares of the financial services provider’s stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also made changes to their positions in RY. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $25,000. Key Financial Inc lifted its position 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 worth $26,000 after purchasing an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the third quarter worth approximately $27,000. Maseco LLP boosted its stake in Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Bell Investment Advisors Inc acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at $32,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $207.78 on Thursday. The company’s fifty day moving average is $208.34 and its two-hundred day moving average is $186.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $135.92 and a 12-month high of $218.57. The company has a market cap of $288.11 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its 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. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the firm posted $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.56%.

Analyst Ratings Changes

RY has been the topic of a number of research reports. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. One investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

About Royal Bank Of Canada

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.