Financial & Tax Architects LLC Purchases New Stake in Royal Bank Of Canada $RY

Financial & Tax Architects LLC acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the first quarter, HoldingsChannel.com reports. The firm acquired 3,207 shares of the financial services provider’s stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RY. Brighton Jones LLC grew its holdings in 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 buying an additional 575 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 4,460 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Royal Bank Of Canada by 57.7% during the 2nd 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 during the period. Baird Financial Group Inc. boosted its position in shares of 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 acquiring an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of 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 acquiring an additional 3,928 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $206.85 on Wednesday. The business has a 50-day moving average of $189.78 and a 200 day moving average of $175.70. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $207.22. The stock has a market capitalization of $287.47 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. 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 (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 earnings per share. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.4%. 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%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RY shares. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reaffirmed 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 shares of Royal Bank Of Canada in a report on Thursday, June 11th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

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.