Royal Bank Of Canada $RY Shares Bought by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its stake in Royal Bank of Canada by 9.0% in the fourth quarter, adding 26,782 shares to bring its total holding to 325,014 shares worth about $55.48 million.
• Analyst sentiment remains generally positive: the stock has a Moderate Buy consensus, with 10 Buy ratings and 4 Hold ratings, and an average target price of $162.00.
• Royal Bank of Canada reported strong quarterly results, with EPS of $2.94 and revenue of $13.18 billion, both ahead of estimates. The company also announced a quarterly dividend of $1.64 per share, equal to a 3.5% yield annualized.

Rathbones Group PLC raised its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,014 shares of the financial services provider's stock after acquiring an additional 26,782 shares during the quarter. Rathbones Group PLC's holdings in Royal Bank Of Canada were worth $55,480,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Florida Trust Wealth Management Co grew its position in Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider's stock valued at $373,000 after acquiring an additional 60 shares in the last quarter. Fiduciary Financial Group LLC grew its position in Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider's stock valued at $320,000 after acquiring an additional 61 shares in the last quarter. Alta Capital Management LLC grew its position in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider's stock valued at $287,000 after acquiring an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider's stock valued at $713,000 after acquiring an additional 74 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in Royal Bank Of Canada by 1.5% in the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider's stock valued at $759,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RY. 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. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Royal Bank Of Canada Stock Up 2.0%

RY stock opened at $187.20 on Thursday. Royal Bank Of Canada has a twelve month low of $124.19 and a twelve month high of $187.63. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $261.65 billion, a P/E ratio of 17.91, a PEG ratio of 1.39 and a beta of 0.80. The firm has a 50 day simple moving average of $171.64 and a 200-day simple moving average of $166.47.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.13. The business had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.62 earnings per share. On average, equities research analysts predict that Royal Bank Of Canada will post 11.53 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada's payout ratio is currently 45.17%.

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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