Northwestern Mutual Wealth Management Co. Boosts Stock Position in Royal Bank Of Canada $RY

Key Points

• Northwestern Mutual Wealth Management increased its stake in Royal Bank of Canada by 30.1% in the fourth quarter, bringing its holdings to 26,351 shares valued at about $4.49 million.
• Other institutional investors also boosted positions, and hedge funds now own 45.31% of Royal Bank of Canada’s stock, signaling continued institutional interest.
• Royal Bank of Canada reported better-than-expected quarterly earnings of $2.84 per share and raised its quarterly dividend to $1.76 per share, lifting the annualized yield to 3.7%.

Northwestern Mutual Wealth Management Co. increased its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 30.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,351 shares of the financial services provider's stock after purchasing an additional 6,099 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Royal Bank Of Canada were worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after buying an additional 575 shares during the period. AQR Capital Management LLC grew its holdings in Royal Bank Of Canada by 60.9% in the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock valued at $1,321,000 after buying an additional 4,460 shares during the period. Sivia Capital Partners LLC grew its holdings in Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock valued at $695,000 after buying an additional 1,934 shares during the period. Baird Financial Group Inc. grew its holdings in Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock valued at $1,783,000 after buying an additional 3,811 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock worth $6,279,000 after purchasing an additional 3,928 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

RY has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday. TD Securities reiterated a "buy" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $191.24 on Thursday. The stock's 50 day moving average price is $177.06 and its 200 day moving average price is $169.51. The firm has a market capitalization of $267.30 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81. 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 has a one year low of $126.02 and a one year high of $192.03.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.Royal Bank Of Canada's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 EPS. As a group, sell-side analysts expect that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared 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 of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.7%. Royal Bank Of Canada's dividend payout ratio is presently 42.41%.

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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