2,702 Shares in Royal Bank Of Canada $RY Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel.com reports. The fund acquired 2,702 shares of the financial services provider’s stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC increased its position in Royal Bank Of Canada by 60.9% in the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC increased its position in Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 1,934 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Royal Bank Of Canada by 39.1% during the 2nd 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 in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Royal Bank Of Canada by 9.0% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 2.4%

Shares of RY stock opened at $207.78 on Thursday. The firm has a fifty day moving average of $208.34 and a 200-day moving average of $186.26. The stock has a market cap of $288.11 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.68 and a beta of 0.80. Royal Bank Of Canada has a 52-week low of $135.92 and a 52-week high of $218.57. 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 (NYSE:RY) (TSE:RY) last posted 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. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.12 earnings per share. On average, equities research analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

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

Wall Street Analysts Forecast Growth

RY has been the subject of several recent research reports. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday. Finally, Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. One 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.00.

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.