Northwestern Mutual Wealth Management Co. Acquires Shares of 28,086 Royal Bank Of Canada $RY

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,086 shares of the financial services provider’s stock, valued at approximately $5,813,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RY. Brighton Jones LLC raised its stake in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of 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 worth $1,321,000 after purchasing an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 1,934 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 3,811 shares during the period. Finally, Cerity Partners LLC increased its holdings in Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after purchasing an additional 3,928 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

RY stock opened at $204.86 on Monday. 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 $135.97 and a 1 year high of $218.57. The firm has a 50-day moving average of $208.56 and a 200 day moving average of $186.79. The company has a market cap of $284.06 billion, a P/E ratio of 18.41, a PEG ratio of 1.54 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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 17.68% and a net margin of 15.92%.The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the previous year, the firm posted $3.12 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Royal Bank Of Canada will post 11.59 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 44.56%.

Analysts Set New Price Targets

RY has been the subject of several research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods began coverage on Royal Bank Of Canada in a research note on Friday. They issued a “market perform” rating for the company. Finally, Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada presently has a consensus 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.