Vanguard Group Inc. Buys 1,290,142 Shares of Royal Bank Of Canada $RY

Key Points

• Vanguard increased its stake in Royal Bank of Canada by 1.9% in Q4, buying 1,290,142 shares to own 67,628,463 shares (4.84%) valued at about $11.53 billion.
• RBC beat quarterly estimates with $2.94 EPS vs. $2.81 expected and $13.18 billion in revenue, and analysts hold a consensus rating of “Moderate Buy” with a $162 price target.
• RBC declared a quarterly dividend of $1.64 ($6.56 annualized), a 3.7% yield, with an ex-dividend date of April 23 and payable May 22.

Vanguard Group Inc. boosted its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,628,463 shares of the financial services provider's stock after acquiring an additional 1,290,142 shares during the period. Vanguard Group Inc. owned 4.84% of Royal Bank Of Canada worth $11,529,165,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RY. Truist Financial Corp boosted its holdings in shares of Royal Bank Of Canada by 10.6% in the 3rd quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider's stock valued at $14,905,000 after buying an additional 9,677 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Royal Bank Of Canada by 2.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider's stock worth $50,824,000 after purchasing an additional 7,278 shares in the last quarter. Caprock Group LLC acquired a new stake in Royal Bank Of Canada in the 3rd quarter worth approximately $1,463,000. Fiera Capital Corp boosted its stake in Royal Bank Of Canada by 2.1% in the 3rd quarter. Fiera Capital Corp now owns 4,854,424 shares of the financial services provider's stock worth $715,227,000 after purchasing an additional 99,966 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in Royal Bank Of Canada by 0.8% in the 3rd quarter. APG Asset Management N.V. now owns 919,463 shares of the financial services provider's stock worth $135,455,000 after purchasing an additional 7,400 shares in the last quarter. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Raymond James Financial reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Zacks Research cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Trading Up 0.3%

Shares of RY stock opened at $175.46 on Friday. The company's 50-day moving average price is $167.61 and its 200-day moving average price is $162.44. 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 stock has a market cap of $245.24 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.32 and a beta of 0.78. Royal Bank Of Canada has a twelve month low of $116.78 and a twelve month high of $180.81.

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 earnings per share 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 firm had revenue of $13.18 billion for the quarter, compared to analysts' expectations of $12.60 billion. During the same quarter in the previous year, the company posted $3.62 EPS. The company's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Royal Bank Of Canada will post 11.56 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio is currently 45.17%.

Royal Bank Of Canada 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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