MUFG Securities EMEA plc Buys New Shares in Royal Bank Of Canada $RY

Key Points

• MUFG Securities EMEA plc disclosed a new fourth-quarter stake in Royal Bank of Canada, buying 290,000 shares valued at about $49.45 million.
• RBC reported better-than-expected quarterly results, with EPS of $2.84 and revenue of $12.84 billion, while also raising revenue 11.4% year over year.
• The bank boosted its quarterly dividend to $1.76 per share from $1.64, implying an annualized yield of about 3.7% and signaling confidence in its financial strength.

MUFG Securities EMEA plc bought a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 290,000 shares of the financial services provider's stock, valued at approximately $49,450,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada during the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC lifted its position in shares of Royal Bank Of Canada by 75.4% in the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at approximately $38,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 88 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 0.5%

RY stock opened at $189.92 on Friday. Royal Bank Of Canada has a 12-month low of $124.19 and a 12-month high of $191.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a market cap of $265.45 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.49 and a beta of 0.80. The company has a 50 day moving average of $175.27 and a two-hundred day moving average of $168.46.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The company's revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Royal Bank Of Canada will post 11.53 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. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. Royal Bank Of Canada's payout ratio is currently 42.41%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RY shares. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Raymond James Financial downgraded 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 research report on Friday. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research report on Friday. Finally, Zacks Research downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Key Stories Impacting Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.