Arkadios Wealth Advisors Raises Stake in Royal Bank Of Canada $RY

Key Points

• Arkadios Wealth Advisors more than doubled its Royal Bank of Canada stake to 42,037 shares in the first quarter, valued at approximately $6.8 million. Institutional investors collectively own 45.31% of the bank.
• Royal Bank of Canada reported quarterly EPS of $2.84 and revenue of $12.84 billion, exceeding analyst expectations, while revenue rose 11.4% year over year.
• The bank increased its quarterly dividend to $1.76 per share, representing a 3.4% yield. Analysts maintain a “Moderate Buy” consensus with a $225 price target, compared with the stock’s recent price of $210.10.

Arkadios Wealth Advisors boosted its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 106.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,037 shares of the financial services provider's stock after buying an additional 21,665 shares during the quarter. Arkadios Wealth Advisors' holdings in Royal Bank Of Canada were worth $6,801,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares during the last quarter. FIL Ltd lifted its stake in Royal Bank Of Canada by 1.1% in the fourth quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider's stock valued at $3,965,133,000 after purchasing an additional 255,465 shares during the last quarter. Norges Bank purchased a new position in Royal Bank Of Canada in the fourth quarter valued at approximately $3,472,382,000. Bank of Nova Scotia grew its holdings in Royal Bank Of Canada by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider's stock valued at $2,596,904,000 after purchasing an additional 238,589 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider's stock valued at $2,389,773,000 after purchasing an additional 882,253 shares during the period. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $210.10 on Friday. The firm has a market capitalization of $291.33 billion, a P/E ratio of 18.88, a PEG ratio of 1.64 and a beta of 0.80. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $202.79 and a 200-day moving average price of $181.99.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating 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 return on equity of 17.68% and a net margin of 15.92%.The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 EPS. As a group, equities research analysts forecast that Royal Bank Of Canada will post 11.41 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business 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 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 (DPR) is currently 44.56%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial lowered Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. TD Securities reiterated a "buy" rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus 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.

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