Legal & General Group Plc Purchases 287,504 Shares of Royal Bank Of Canada $RY

Legal & General Group Plc lifted its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,275,134 shares of the financial services provider’s stock after buying an additional 287,504 shares during the period. Legal & General Group Plc owned approximately 0.59% of Royal Bank Of Canada worth $1,219,924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 74 shares in the last quarter. Advisory Resource Group boosted its position in shares of Royal Bank Of Canada by 0.8% in the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 75 shares in the last quarter. Ballentine Partners LLC grew its stake in Royal Bank Of Canada by 1.5% during the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock worth $759,000 after buying an additional 75 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in Royal Bank Of Canada by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,396 shares of the financial services provider’s stock worth $500,000 after buying an additional 80 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Royal Bank Of Canada by 2.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock valued at $478,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.0%

Shares of RY opened at $163.58 on Tuesday. The company has a market capitalization of $228.63 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.23 and a beta of 0.79. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $176.19. The stock’s 50-day moving average price is $169.34 and its 200-day moving average price is $157.30. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same period last year, the business earned $3.62 earnings per share. Royal Bank Of Canada’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is currently 45.74%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RY shares. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. UBS Group reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Finally, TD Cowen upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada 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.