US Bancorp DE Buys 5,494 Shares of Royal Bank Of Canada $RY

US Bancorp DE increased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,294 shares of the financial services provider’s stock after acquiring an additional 5,494 shares during the period. US Bancorp DE’s holdings in Royal Bank Of Canada were worth $13,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Truist Financial Corp increased its position in shares of Royal Bank Of Canada by 10.6% during the third quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock worth $14,905,000 after acquiring an additional 9,677 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Royal Bank Of Canada by 2.2% during the third quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock worth $50,824,000 after acquiring an additional 7,278 shares during the last quarter. Legal & General Group Plc increased its position in shares of Royal Bank Of Canada by 3.6% during 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 acquiring an additional 287,504 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Royal Bank Of Canada during the third quarter worth about $1,463,000. Finally, Fiera Capital Corp increased its position in shares of Royal Bank Of Canada by 2.1% during the third quarter. Fiera Capital Corp now owns 4,854,424 shares of the financial services provider’s stock worth $715,227,000 after acquiring an additional 99,966 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Down 0.2%

Shares of Royal Bank Of Canada stock opened at $179.61 on Friday. 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 firm has a market cap of $251.04 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.35 and a beta of 0.80. Royal Bank Of Canada has a fifty-two week low of $119.59 and a fifty-two week high of $180.90. The business has a 50-day moving average price of $168.19 and a 200 day moving average price of $163.35.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data 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. The firm had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.Royal Bank Of Canada’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.62 earnings per share. On average, sell-side analysts forecast that Royal Bank Of Canada will post 11.56 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

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

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.