Twin Tree Management LP Invests $6.59 Million in Royal Bank Of Canada $RY

Twin Tree Management LP purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 31,842 shares of the financial services provider’s stock, valued at approximately $6,590,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. Bank of Nova Scotia bought a new stake in Royal Bank Of Canada in the second quarter valued at about $2,549,157,000. Elevation Point Wealth Partners LLC bought a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $987,000. Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $414,000. Commerce Bank acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $2,776,000. Finally, GQG Partners LLC acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $633,000. 45.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. 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. Finally, Argus set a $225.00 target price on shares of Royal Bank Of Canada in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $204.86 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $284.06 billion, a PE ratio of 18.41, a P/E/G ratio of 1.62 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $135.97 and a 1-year high of $218.57. The business’s fifty day moving average price is $208.56 and its two-hundred day moving average price is $186.66.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.12 earnings per share. On average, research analysts expect that Royal Bank Of Canada will post 11.59 EPS 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. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada’s payout ratio is currently 44.56%.

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.