Fiduciary Wealth Partners LLC Purchases New Position in Royal Bank Of Canada (NYSE:RY)

Key Points

• Fiduciary Wealth Partners LLC has acquired a new position in the Royal Bank of Canada (NYSE:RY), purchasing 2,097 shares valued at approximately $236,000.
• Analysts have mixed views on Royal Bank of Canada, with a consensus rating of "Moderate Buy" and an average price target set at $193.00.
• The bank recently increased its quarterly dividend to $1.1152, offering a yield of 3.5%, with a payout ratio of 50.33%.

Fiduciary Wealth Partners LLC acquired a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,097 shares of the financial services provider's stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter worth $25,000. Sunbelt Securities Inc. increased its holdings in 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 valued at $29,000 after purchasing an additional 250 shares during the period. Optiver Holding B.V. purchased a new position in Royal Bank Of Canada during the 4th quarter valued at about $35,000. Transce3nd LLC purchased a new position in Royal Bank Of Canada during the 4th quarter valued at about $37,000. Finally, Cullen Frost Bankers Inc. boosted its position in 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 valued at $39,000 after acquiring an additional 257 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

RY traded up $0.79 during trading on Tuesday, reaching $130.71. 661,899 shares of the company's stock were exchanged, compared to its average volume of 1,244,321. The company's fifty day simple moving average is $129.84 and its 200-day simple moving average is $122.04. The stock has a market capitalization of $183.75 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.47 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. Royal Bank Of Canada has a 1 year low of $105.31 and a 1 year high of $134.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $2.92 EPS. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a $1.1152 dividend. This is a boost 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 3.4%. Royal Bank Of Canada's payout ratio is 50.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RY shares. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Royal Bank Of Canada has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada 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.