JustInvest LLC Buys 572 Shares of Royal Bank of Canada (NYSE:RY)


JustInvest LLC grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,592 shares of the financial services provider’s stock after acquiring an additional 572 shares during the period. JustInvest LLC’s holdings in Royal Bank of Canada were worth $951,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RY. Creative Financial Designs Inc. ADV raised its stake in Royal Bank of Canada by 1.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 8,524 shares of the financial services provider’s stock worth $598,000 after buying an additional 150 shares in the last quarter. Glassman Wealth Services raised its stake in Royal Bank of Canada by 2.1% in the third quarter. Glassman Wealth Services now owns 7,173 shares of the financial services provider’s stock worth $503,000 after buying an additional 150 shares in the last quarter. Sheets Smith Wealth Management raised its stake in Royal Bank of Canada by 1.2% in the third quarter. Sheets Smith Wealth Management now owns 13,147 shares of the financial services provider’s stock worth $922,000 after buying an additional 155 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Royal Bank of Canada by 10.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,848 shares of the financial services provider’s stock worth $130,000 after buying an additional 171 shares in the last quarter. Finally, Cox Capital Mgt LLC raised its stake in 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 worth $722,000 after buying an additional 173 shares in the last quarter. 40.81% of the stock is owned by hedge funds and other institutional investors.

Shares of RY opened at $85.44 on Thursday. The firm has a market capitalization of $121.51 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. Royal Bank of Canada has a 1-year low of $49.55 and a 1-year high of $86.14. The company’s fifty day moving average price is $82.98 and its 200-day moving average price is $75.69.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.73. The firm had revenue of $11.09 billion for the quarter, compared to analyst estimates of $11.45 billion. Royal Bank of Canada had a net margin of 18.78% and a return on equity of 14.84%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 earnings per share. As a group, research analysts anticipate that Royal Bank of Canada will post 6.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 24th. Shareholders of record on Tuesday, January 26th will be issued a $0.811 dividend. 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. The ex-dividend date of this dividend is Monday, January 25th. Royal Bank of Canada’s dividend payout ratio is presently 54.64%.

A number of equities analysts recently commented on the stock. Veritas Investment Research raised shares of Royal Bank of Canada from a “sell” rating to a “buy” rating in a research note on Thursday, October 29th. Barclays boosted their price objective on shares of 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. Scotiabank upped their price target on Royal Bank of Canada from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, December 3rd. Zacks Investment Research raised Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, November 20th. Finally, Canaccord Genuity upped their price target on Royal Bank of Canada from $107.50 to $113.50 and gave the stock a “hold” rating in a research report on Thursday, December 3rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average 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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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)



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