Income Insurance Ltd Purchases New Shares in Royal Bank Of Canada $RY

Income Insurance Ltd purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,226 shares of the financial services provider’s stock, valued at approximately $721,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Florida Trust Wealth Management Co lifted its holdings in Royal Bank Of Canada by 2.8% during the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 60 shares in the last quarter. Fiduciary Financial Group LLC lifted its holdings in Royal Bank Of Canada by 3.4% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Royal Bank Of Canada by 1.5% during the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 75 shares in the last quarter. Finally, Burney Co. lifted its holdings in Royal Bank Of Canada by 1.7% during the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $181.68 on Friday. The company’s 50-day moving average price is $168.74 and its 200-day moving average price is $164.21. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a market cap of $253.93 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.37 and a beta of 0.80. Royal Bank Of Canada has a twelve month low of $119.77 and a twelve month high of $182.73.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. The business had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.62 earnings per share. On average, sell-side analysts forecast that Royal Bank Of Canada will post 11.57 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s payout ratio is 45.17%.

Analyst Ratings Changes

RY has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target of $162.00.

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.