Fisher Asset Management LLC Buys 368,534 Shares of Royal Bank Of Canada $RY

Key Points

• Fisher Asset Management increased its stake in Royal Bank of Canada by 6.1% in the fourth quarter, buying 368,534 additional shares. The fund now owns 6,373,400 shares, worth about $1.09 billion.
• Broker sentiment on RY remains mixed but generally positive: the stock has a Moderate Buy consensus, with 10 Buy ratings and 4 Hold ratings, and a consensus price target of $162.00.
• Royal Bank of Canada recently reported better-than-expected earnings, with quarterly EPS of $2.94 versus $2.81 expected and revenue of $13.18 billion. The bank also paid a quarterly dividend of $1.64, implying an annual yield of about 3.5%.

Fisher Asset Management LLC boosted its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,373,400 shares of the financial services provider's stock after acquiring an additional 368,534 shares during the quarter. Fisher Asset Management LLC owned approximately 0.46% of Royal Bank Of Canada worth $1,086,601,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Florida Trust Wealth Management Co boosted its stake in shares of Royal Bank Of Canada by 2.8% in the 4th 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 during the last quarter. Fiduciary Financial Group LLC boosted its stake in shares of Royal Bank Of Canada by 3.4% in the 4th 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 during the last quarter. Alta Capital Management LLC boosted its stake in shares of Royal Bank Of Canada by 4.0% in the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider's stock valued at $287,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Royal Bank Of Canada by 1.6% in the 3rd 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 during the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of Royal Bank Of Canada by 1.5% in the 3rd 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 during the last quarter. Institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RY. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and a consensus target price of $162.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY opened at $189.67 on Monday. The company has a market capitalization of $265.11 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.49 and a beta of 0.80. The firm's 50 day simple moving average is $172.61 and its 200 day simple moving average is $167.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a fifty-two week low of $124.19 and a fifty-two week high of $190.36.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. Royal Bank Of Canada's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company posted $3.62 EPS. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.53 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Thursday, April 23rd were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 45.17%.

About Royal Bank Of Canada

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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