Havemeyer Place LP Takes $2.09 Million Position in Royal Bank Of Canada $RY

Havemeyer Place LP bought a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,238 shares of the financial services provider’s stock, valued at approximately $2,086,000.

A number of other large investors have also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC bought a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at about $26,000. Johnson Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada in the third quarter valued at about $27,000. Highline Wealth Partners LLC raised its holdings in shares of Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Royal Bank Of Canada in the third quarter valued at about $38,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

RY opened at $194.25 on Friday. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $195.53. 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 company has a market cap of $269.95 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81. The firm’s 50-day moving average price is $178.35 and its 200-day moving average price is $170.02.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the company posted $3.12 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

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.