24,893 Shares in Royal Bank Of Canada $RY Purchased by Magnetar Financial LLC

Magnetar Financial LLC purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,893 shares of the financial services provider’s stock, valued at approximately $4,244,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Royal Bank Of Canada during the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada during the 4th quarter valued at about $26,000. Johnson Financial Group Inc. bought a new position in Royal Bank Of Canada during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC lifted its stake in Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC lifted its stake in Royal Bank Of Canada by 55.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 88 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RY shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $201.02 on Wednesday. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $201.74. The firm has a market capitalization of $279.37 billion, a P/E ratio of 18.06, a PEG ratio of 1.57 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $183.58 and a 200-day moving average price of $172.58.

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 the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 42.41%.

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.