M. Kulyk & Associates LLC Purchases New Stake in Royal Bank Of Canada $RY

M. Kulyk & Associates LLC acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, HoldingsChannel.com reports. The firm acquired 14,266 shares of the financial services provider’s stock, valued at approximately $2,953,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RY. Brighton Jones LLC raised its holdings in shares of Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 575 shares during the period. AQR Capital Management LLC grew its holdings in shares of Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 4,460 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,934 shares during the period. Baird Financial Group Inc. increased its position in Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after purchasing an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Royal Bank Of Canada by 9.0% during the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after purchasing an additional 3,928 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 1.4%

RY opened at $213.08 on Wednesday. Royal Bank Of Canada has a 52 week low of $135.92 and a 52 week high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $208.14 and a 200-day simple moving average of $185.98. The firm has a market cap of $295.45 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.71 and a beta of 0.80.

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 return on equity of 17.68% and a net margin of 15.92%.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 previous year, the business earned $3.12 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.3%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is presently 44.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RY shares. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. One investment 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 data from MarketBeat, the company presently has an average 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.