Vise Technologies Inc. Makes New Investment in Royal Bank Of Canada $RY

Vise Technologies Inc. acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 32,102 shares of the financial services provider’s stock, valued at approximately $6,644,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after purchasing an additional 1,290,142 shares in the last quarter. FIL Ltd lifted its holdings in Royal Bank Of Canada by 1.1% during the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock worth $3,965,133,000 after buying an additional 255,465 shares in the last quarter. Norges Bank acquired a new position in Royal Bank Of Canada during the 4th quarter worth $3,472,382,000. Bank of Nova Scotia boosted its position in Royal Bank Of Canada by 1.6% in the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock valued at $2,596,904,000 after buying an additional 238,589 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Royal Bank Of Canada by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after buying an additional 882,253 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of RY stock opened at $205.27 on Friday. The firm’s 50 day moving average price is $208.46 and its two-hundred day moving average price is $186.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52-week low of $135.92 and a 52-week high of $218.57. The stock has a market cap of $284.63 billion, a PE ratio of 18.44, a PEG ratio of 1.64 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.12 EPS. As a group, analysts forecast that Royal Bank Of Canada will post 11.47 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 44.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RY shares. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Company 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.