Cwm LLC Increases Stock Position in Royal Bank Of Canada $RY

Key Points

• Cwm LLC increased its stake in Royal Bank of Canada by 144.3% in Q4, purchasing 29,741 shares to hold 50,349 shares valued at about $8.58 million.
• RBC beat Q results with $2.94 EPS vs $2.81 expected and revenue of $13.18 billion (up 4.4% YoY); analysts hold a consensus "Moderate Buy" rating with an average price target of $162.00.
• Dividend: RBC declared a quarterly dividend of $1.64 per share (annualized $6.56) implying a ~3.7% yield, with ex-dividend date April 23 and payment on May 22.

Cwm LLC lifted its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 144.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,349 shares of the financial services provider's stock after purchasing an additional 29,741 shares during the period. Cwm LLC's holdings in Royal Bank Of Canada were worth $8,584,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RY. Brighton Jones LLC lifted its position in shares of 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 worth $279,000 after purchasing an additional 575 shares during the period. AQR Capital Management LLC lifted its position in Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock valued at $1,321,000 after acquiring an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock valued at $695,000 after acquiring an additional 1,934 shares during the last quarter. Baird Financial Group Inc. lifted its position in Royal Bank Of Canada by 39.1% during the second 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 lifted its position in Royal Bank Of Canada by 9.0% during the second 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. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Trading Down 0.0%

Shares of Royal Bank Of Canada stock opened at $178.44 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12-month low of $114.63 and a 12-month high of $179.70. The firm has a market capitalization of $249.40 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.34 and a beta of 0.78. The firm's 50 day simple moving average is $167.14 and its two-hundred day simple moving average is $161.48.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued 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. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same quarter in the prior year, the business posted $3.62 EPS. Royal Bank Of Canada's revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently declared 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 is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.7%. Royal Bank Of Canada's dividend payout ratio is presently 45.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RY shares. Zacks Research cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Royal Bank Of Canada Company 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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