Royal Bank Of Canada $RY Stock Holdings Increased by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Royal Bank of Canada by 18.5% in the fourth quarter, buying an additional 15,046 shares and bringing its total holdings to 96,234 shares worth about $16.4 million.
• Royal Bank of Canada reported better-than-expected quarterly results, with EPS of $2.94 versus the $2.81 consensus estimate and revenue of $13.18 billion, up 4.4% year over year.
• The bank also paid a quarterly dividend of $1.64 per share, equal to an annualized yield of 3.5%, while analysts currently rate the stock a consensus Moderate Buy with a $162 price target.

HighTower Advisors LLC lifted its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,234 shares of the financial services provider's stock after purchasing an additional 15,046 shares during the quarter. HighTower Advisors LLC's holdings in Royal Bank Of Canada were worth $16,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares in the last quarter. Canerector Inc. lifted its position in shares of Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider's stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Royal Bank Of Canada by 3.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider's stock worth $1,642,712,000 after purchasing an additional 338,575 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider's stock worth $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Royal Bank Of Canada by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider's stock worth $1,074,879,000 after buying an additional 740,276 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Up 0.3%

Shares of RY stock opened at $189.67 on Friday. Royal Bank Of Canada has a 12 month low of $124.19 and a 12 month high of $190.36. 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 business's 50 day moving average is $172.61 and its two-hundred day moving average is $166.93. The company has a market cap of $265.11 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.49 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced 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 return on equity of 17.12% and a net margin of 15.28%.The company had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter last year, the company posted $3.62 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Royal Bank Of Canada will post 11.53 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio (DPR) is 45.07%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RY. Weiss Ratings downgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Zacks Research downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Raymond James Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 12th. Finally, Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target 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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