Royal Bank Of Canada $RY Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,415,117 shares of the financial services provider’s stock after acquiring an additional 57,201 shares during the period. Clearbridge Investments LLC’s holdings in Royal Bank Of Canada were worth $241,263,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RY. Brighton Jones LLC raised its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares in the last quarter. AQR Capital Management LLC raised its holdings in 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 acquiring an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in 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 acquiring an additional 1,934 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Royal Bank Of Canada by 39.1% in the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC increased its stake 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 valued at $6,279,000 after purchasing an additional 3,928 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RY has been the subject of several recent research reports. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note 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. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Down 0.4%

Royal Bank Of Canada stock opened at $194.25 on Friday. The company has a 50-day simple moving average of $178.35 and a 200-day simple moving average of $170.02. The firm has a market capitalization of $269.95 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $195.53.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The business 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 17.83%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.12 earnings per share. As a group, equities analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

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

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.