Royal Bank Of Canada $RY Position Increased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management significantly boosted its Royal Bank of Canada stake in the fourth quarter, increasing holdings by 940.5% to 210,721 shares worth about $35.9 million.
• Royal Bank of Canada reported strong quarterly results, posting $2.94 EPS and $13.18 billion in revenue, both ahead of analyst expectations.
• The bank declared a quarterly dividend of $1.64 per share, implying an annualized yield of about 3.6%; analysts currently rate the stock a Moderate Buy with a consensus target price of $162.00.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 940.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,721 shares of the financial services provider's stock after buying an additional 190,469 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Royal Bank Of Canada were worth $35,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Vanguard Group Inc. raised its stake in Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock valued at $11,529,165,000 after purchasing an additional 1,290,142 shares during the period. Canerector Inc. raised its stake in Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider's stock valued at $1,964,188,000 after purchasing an additional 13,267,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Royal Bank Of Canada by 3.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider's stock valued at $1,642,712,000 after purchasing an additional 338,575 shares during the period. Legal & General Group Plc raised its stake in Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider's stock valued at $1,219,924,000 after purchasing an additional 287,504 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Royal Bank Of Canada by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider's stock valued at $1,074,879,000 after purchasing an additional 740,276 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Trading Up 0.7%

Royal Bank Of Canada stock opened at $184.75 on Tuesday. The company's fifty day simple moving average is $170.77 and its 200-day simple moving average is $165.92. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12 month low of $124.19 and a 12 month high of $185.16. The stock has a market cap of $258.22 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.38 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion for the quarter, compared to analysts' expectations of $12.60 billion. During the same period in the previous year, the company posted $3.62 EPS. Royal Bank Of Canada's revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.57 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada's payout ratio is currently 45.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note 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 note on Tuesday, May 12th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Zacks Research downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

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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