Rose Capital Advisors LLC Makes New $599,000 Investment in Royal Bank Of Canada $RY

Rose Capital Advisors LLC bought a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, HoldingsChannel reports. The institutional investor bought 2,892 shares of the financial services provider’s stock, valued at approximately $599,000.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC grew its position 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 buying an additional 575 shares during the period. AQR Capital Management LLC lifted 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 buying an additional 4,460 shares during the period. Sivia Capital Partners LLC boosted its stake 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 during the last quarter. Baird Financial Group Inc. boosted its stake 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 during the last quarter. Finally, Cerity Partners LLC grew its holdings in 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 acquiring an additional 3,928 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.7%

NYSE:RY opened at $210.58 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day simple moving average is $209.53 and its 200-day simple moving average is $189.16. Royal Bank Of Canada has a fifty-two week low of $143.13 and a fifty-two week high of $218.57. The stock has a market capitalization of $291.99 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.85 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Sell-side analysts expect that Royal Bank Of Canada will post 12.07 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio is 43.39%.

Analysts Set New Price Targets

RY has been the subject of several recent research reports. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They set a “market perform” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target 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.