3,059 Shares in Royal Bank Of Canada $RY Bought by GQG Partners LLC

GQG Partners LLC purchased a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, HoldingsChannel.com reports. The fund purchased 3,059 shares of the financial services provider’s stock, valued at approximately $633,000.

Several other hedge funds have also recently bought and sold shares of RY. Brighton Jones LLC boosted its holdings in shares of Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC grew its position in Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after acquiring an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 1,934 shares in the last quarter. Baird Financial Group Inc. raised its stake in Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after acquiring an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after acquiring an additional 3,928 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RY. 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. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a report on Friday. They set a “market perform” rating for the company. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Down 0.2%

RY opened at $204.86 on Friday. Royal Bank Of Canada has a fifty-two week low of $135.97 and a fifty-two week high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $284.06 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.62 and a beta of 0.80. The company’s 50 day moving average price is $208.56 and its two-hundred day moving average price is $186.66.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm 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%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.12 earnings per share. As a group, research analysts predict that Royal Bank Of Canada will post 11.59 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business 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 $1.76 dividend. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 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.