Franklin Resources Inc. Has $413.53 Million Holdings in Royal Bank Of Canada $RY

Key Points

• Franklin Resources increased its Royal Bank of Canada stake by 0.7% in the fourth quarter, ending with 2.43 million shares valued at about $413.5 million.
• Royal Bank of Canada shares were trading near their 52-week high at $195.34, with a market cap of $271.47 billion and a recent 0.7% gain.
• The bank beat quarterly earnings expectations, raised its dividend to $1.76 per share, and now offers an annualized yield of about 3.6%.

Franklin Resources Inc. boosted its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,425,642 shares of the financial services provider's stock after acquiring an additional 15,751 shares during the period. Franklin Resources Inc. owned 0.17% of Royal Bank Of Canada worth $413,528,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Royal Bank Of Canada during the 4th quarter worth about $3,472,382,000. Canerector Inc. increased its position in Royal Bank Of Canada by 20,412.0% in the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider's stock worth $1,964,188,000 after buying an additional 13,267,800 shares during the period. Quadrature Capital Ltd increased its position in Royal Bank Of Canada by 603.1% in the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider's stock worth $257,183,000 after buying an additional 1,498,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 2.0% during the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider's stock worth $9,777,472,000 after buying an additional 1,329,637 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Royal Bank Of Canada by 6.9% in 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 acquiring an additional 882,253 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Trading Up 0.7%

Shares of RY stock opened at $195.34 on Tuesday. The firm has a fifty day moving average of $179.06 and a 200-day moving average of $170.51. The stock has a market cap of $271.47 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.53 and a beta of 0.81. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $196.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to analysts' expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 earnings per share. On average, equities research analysts forecast that Royal Bank Of Canada will post 11.52 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 Monday, August 24th. Investors 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. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. Royal Bank Of Canada's dividend payout ratio is 42.41%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RY shares. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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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