Johnson Midwest Financial LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 500 shares of the financial services provider’s stock, valued at approximately $41,000.
Several other large investors also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV boosted its stake in shares of Royal Bank of Canada by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 8,524 shares of the financial services provider’s stock worth $598,000 after acquiring an additional 150 shares during the period. Glassman Wealth Services increased its holdings in Royal Bank of Canada by 2.1% in the 3rd quarter. Glassman Wealth Services now owns 7,173 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 150 shares in the last quarter. Sheets Smith Wealth Management increased its holdings in Royal Bank of Canada by 1.2% in the 3rd quarter. Sheets Smith Wealth Management now owns 13,147 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 155 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Royal Bank of Canada by 10.2% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,848 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 171 shares in the last quarter. Finally, Cox Capital Mgt LLC increased its stake in shares of Royal Bank of Canada by 1.7% in the third quarter. Cox Capital Mgt LLC now owns 10,288 shares of the financial services provider’s stock valued at $722,000 after buying an additional 173 shares during the period. 40.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RY stock opened at $85.44 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $82.98 and a two-hundred day moving average price of $75.69. Royal Bank of Canada has a 12-month low of $49.55 and a 12-month high of $86.14. The firm has a market cap of $121.51 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.73. Royal Bank of Canada had a return on equity of 14.84% and a net margin of 18.78%. The firm had revenue of $11.09 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts expect that Royal Bank of Canada will post 6.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 24th. Shareholders of record on Tuesday, January 26th will be paid a dividend of $0.811 per share. The ex-dividend date is Monday, January 25th. This represents a $3.24 annualized dividend and a yield of 3.80%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.81. Royal Bank of Canada’s payout ratio is 54.64%.
RY has been the topic of several research analyst reports. CIBC upped their target price on Royal Bank of Canada from $127.00 to $128.00 and gave the company a “neutral” rating in a research report on Thursday, December 3rd. Canaccord Genuity increased their price target on Royal Bank of Canada from $107.50 to $113.50 and gave the stock a “hold” rating in a report on Thursday, December 3rd. Veritas Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “buy” rating in a report on Thursday, October 29th. Barclays increased their price objective on Royal Bank of Canada from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, November 12th. Finally, Zacks Investment Research raised Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, November 20th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $104.68.
About Royal Bank of Canada
Royal Bank of Canada operates as a diversified financial service company worldwide. The company’s Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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