Royal Bank Of Canada $RY Stock Position Increased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Royal Bank of Canada position by 11.6% in the first quarter, bringing its holdings to 77,412 shares worth approximately $12.5 million. Institutional investors collectively own 45.31% of the company.
• Analyst sentiment remains positive, with 10 Buy ratings and four Holds, resulting in a consensus “Moderate Buy” rating and a $225 price target. RY recently traded at $206.22, near its 52-week high of $218.57.
• Royal Bank of Canada beat quarterly earnings and revenue estimates, reporting $2.84 in EPS and $12.84 billion in revenue. The bank also raised its quarterly dividend to $1.76, equivalent to a 3.4% annualized yield.

Cetera Investment Advisers grew its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 11.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 77,412 shares of the financial services provider's stock after acquiring an additional 8,032 shares during the quarter. Cetera Investment Advisers' holdings in Royal Bank Of Canada were worth $12,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Royal Bank Of Canada by 60.9% in the first 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 in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock valued at $695,000 after acquiring an additional 1,934 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock valued at $1,783,000 after purchasing an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock valued at $6,279,000 after purchasing an additional 3,928 shares during the period. Institutional investors own 45.31% of the company's stock.

Wall Street Analyst Weigh In

RY has been the topic of several recent analyst reports. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Royal Bank Of Canada from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, June 29th. Finally, Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.

Royal Bank Of Canada Price Performance

RY opened at $206.22 on Thursday. The stock has a fifty day moving average price of $202.37 and a 200 day moving average price of $181.70. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $218.57. The stock has a market cap of $285.94 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.68 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same period in the prior year, the firm posted $3.12 EPS. The business's revenue was up 11.4% compared to the same quarter last year. Analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 44.56%.

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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