Advisortrust Partners LLC Makes New Investment in Royal Bank Of Canada $RY

Advisortrust Partners LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,810 shares of the financial services provider’s stock, valued at approximately $991,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada in the 4th quarter worth about $26,000. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC grew 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 valued at $35,000 after buying an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC grew 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 valued at $41,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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 target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Finally, Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $201.66 on Friday. The firm has a market cap of $280.25 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.59 and a beta of 0.81. 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’s 50 day moving average is $185.68 and its 200-day moving average is $173.44. Royal Bank Of Canada has a 12-month low of $126.02 and a 12-month high of $202.90.

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 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.83% and a net margin of 15.92%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $3.12 earnings per share. Sell-side analysts predict that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business 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 represents a $7.04 dividend on an annualized basis and a yield of 3.5%. 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 presently 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.