Southeast Asset Advisors LLC Acquires New Shares in Royal Bank Of Canada $RY

Key Points

• Southeast Asset Advisors LLC has acquired 2,000 shares of Royal Bank of Canada, valued at approximately $225,000, during the first quarter.
• Royal Bank of Canada recently declared a quarterly dividend of $1.1152 per share, increasing from its previous dividend of $1.03, which reflects a dividend yield of 3.2%.
• Recent analyst ratings show a mixed outlook, with one strong buy, four buys, and three holds, resulting in a consensus rating of "Moderate Buy" with a price target of $193.00.

Southeast Asset Advisors LLC bought a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the financial services provider's stock, valued at approximately $225,000.

Several other large investors have also recently modified their holdings of the stock. Park Square Financial Group LLC bought a new stake in Royal Bank Of Canada in the fourth quarter worth $25,000. Sunbelt Securities Inc. increased its position in Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada in the 1st quarter worth about $32,000. Optiver Holding B.V. bought a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $35,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after purchasing an additional 257 shares during the period. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Trading Up 0.5%

Shares of RY traded up $0.76 during trading hours on Thursday, reaching $146.02. 1,115,168 shares of the company traded hands, compared to its average volume of 1,242,251. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock's fifty day moving average price is $132.55 and its 200 day moving average price is $123.73. The firm has a market cap of $205.19 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.59 and a beta of 0.89. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%.The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.26 earnings per share. Sell-side analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent analyst reports. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Finally, Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $193.00.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.