Russell Investments Group Ltd. Grows Stock Holdings in Royal Bank Of Canada $RY

Russell Investments Group Ltd. grew its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 38.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,055,401 shares of the financial services provider’s stock after purchasing an additional 292,105 shares during the period. Russell Investments Group Ltd.’s holdings in Royal Bank Of Canada were worth $180,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC increased its position in Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $201.02 on Wednesday. The company has a market cap of $279.37 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50-day moving average of $183.58 and a two-hundred day moving average of $172.58. Royal Bank Of Canada has a 1-year low of $126.02 and a 1-year high of $201.74.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the prior year, the company earned $3.12 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts anticipate that Royal Bank Of Canada will post 11.52 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

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.