Royal Bank Of Canada $RY Stock Holdings Increased by Stephens Inc. AR

Stephens Inc. AR boosted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 370.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,377 shares of the financial services provider’s stock after purchasing an additional 34,937 shares during the period. Stephens Inc. AR’s holdings in Royal Bank Of Canada were worth $6,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Royal Bank Of Canada in the third quarter worth $220,000. Rempart Asset Management Inc. boosted its position in Royal Bank Of Canada by 2.4% during the third quarter. Rempart Asset Management Inc. now owns 216,581 shares of the financial services provider’s stock valued at $31,942,000 after purchasing an additional 5,105 shares during the last quarter. First Horizon Corp acquired a new stake in Royal Bank Of Canada during the third quarter valued at $82,000. Forum Financial Management LP grew its stake in Royal Bank Of Canada by 7.9% in the third quarter. Forum Financial Management LP now owns 6,800 shares of the financial services provider’s stock valued at $1,002,000 after purchasing an additional 500 shares in the last quarter. Finally, Cardinal Capital Management increased its position in Royal Bank Of Canada by 1.0% in the 3rd quarter. Cardinal Capital Management now owns 39,711 shares of the financial services provider’s stock worth $5,850,000 after purchasing an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the subject of several recent research reports. Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Raymond James Financial assumed coverage on shares of Royal Bank Of Canada in a research note on Monday, November 24th. They issued a “moderate buy” rating for the company. Finally, Natl Bk Canada upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Trading Up 0.4%

NYSE:RY opened at $169.24 on Friday. The company’s 50 day moving average is $161.42 and its 200-day moving average is $147.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $174.61. The firm has a market cap of $237.02 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 1.21 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. Royal Bank Of Canada’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $3.07 EPS. Equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be given a $1.64 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 44.07%.

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.