Arkadios Wealth Advisors Buys 8,056 Shares of Royal Bank Of Canada (NYSE:RY)

Key Points

• Arkadios Wealth Advisors increased its stake in the Royal Bank of Canada by 97.3%, owning 16,332 shares worth approximately $1.84 million after purchasing an additional 8,056 shares.
• The Royal Bank of Canada recently declared a quarterly dividend of $1.1152, an increase from the previous dividend of $1.03, representing a 3.5% yield.
• Despite a missed earnings estimate for the latest quarter, analysts maintain a consensus rating of "Moderate Buy" for the stock, with an average price target of $193.00.

Arkadios Wealth Advisors lifted its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 97.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,332 shares of the financial services provider's stock after buying an additional 8,056 shares during the period. Arkadios Wealth Advisors' holdings in Royal Bank Of Canada were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. lifted its holdings in shares of Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after acquiring an additional 250 shares during the period. Optiver Holding B.V. bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $35,000. Transce3nd LLC bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $37,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after acquiring an additional 257 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $128.41 on Friday. The company has a market cap of $180.52 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $129.80 and a 200 day simple moving average of $121.87. Royal Bank Of Canada has a one year low of $102.89 and a one year high of $134.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. Royal Bank Of Canada's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.92 EPS. Research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a $1.1152 dividend. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.5%. Royal Bank Of Canada's dividend payout ratio is currently 50.22%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, Scotiabank began coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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