M. Kulyk & Associates LLC Takes Position in Royal Bank Of Canada $RY

Key Points

• M. Kulyk & Associates LLC acquired 14,266 shares of Royal Bank of Canada in the second quarter, valued at approximately $2.95 million. Institutional investors and hedge funds collectively own 45.31% of the stock.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and a $225 average price target. Royal Bank of Canada shares recently opened at $213.08, near their 52-week high of $218.57.
• Royal Bank of Canada reported quarterly EPS of $2.84, exceeding estimates, while revenue rose 11.4% year over year to $12.84 billion. The bank also increased its quarterly dividend to $1.76, implying a 3.3% annualized yield.

M. Kulyk & Associates LLC bought a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,266 shares of the financial services provider's stock, valued at approximately $2,953,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. Harvest Fund Management Co. Ltd acquired a new position in Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Key Financial Inc grew its stake in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after purchasing an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $27,000. Maseco LLP increased its holdings in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at approximately $32,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. 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. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY opened at $213.08 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1 year low of $135.92 and a 1 year high of $218.57. The firm has a market capitalization of $295.45 billion, a PE ratio of 19.14, a P/E/G ratio of 1.71 and a beta of 0.80. The business's 50 day moving average price is $208.14 and its 200-day moving average price is $185.98.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data 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. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the firm posted $3.12 EPS. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a $1.76 dividend. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada's payout ratio is 44.56%.

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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