Diversify Advisory Services LLC Purchases Shares of 4,120 Royal Bank Of Canada $RY

Diversify Advisory Services LLC purchased a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,120 shares of the financial services provider’s stock, valued at approximately $863,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First National Bank of Omaha bought a new stake in shares of Royal Bank Of Canada during the 2nd quarter worth $6,841,000. Timothy G. Youngquist 2020 Irrevocable Trust raised its holdings in Royal Bank Of Canada by 15.9% in the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 4,741 shares of the financial services provider’s stock worth $981,000 after acquiring an additional 650 shares during the period. M. Kulyk & Associates LLC acquired a new position in Royal Bank Of Canada during the 2nd quarter worth $2,953,000. K.J. Harrison & Partners Inc acquired a new position in Royal Bank Of Canada during the 2nd quarter worth $23,334,000. Finally, MidFirst Bank bought a new stake in Royal Bank Of Canada during the second quarter valued at about $5,298,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Down 1.1%

Shares of RY opened at $205.27 on Friday. Royal Bank Of Canada has a 12-month low of $135.92 and a 12-month high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $284.63 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.64 and a beta of 0.80. The stock’s 50-day moving average price is $208.46 and its 200 day moving average price is $186.53.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data 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. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter last year, the company earned $3.12 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RY. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus 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.