Raymond James Financial Inc. Buys 6,640 Shares of Royal Bank Of Canada $RY

Raymond James Financial Inc. boosted its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 504,807 shares of the financial services provider’s stock after acquiring an additional 6,640 shares during the period. Raymond James Financial Inc.’s holdings in Royal Bank Of Canada were worth $56,902,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RY. Goldman Sachs Group Inc. boosted its holdings in Royal Bank Of Canada by 129.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider’s stock valued at $796,227,000 after acquiring an additional 3,990,839 shares in the last quarter. Vanguard Group Inc. lifted its position in Royal Bank Of Canada by 5.7% during the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after buying an additional 3,387,971 shares during the period. Bank of Nova Scotia lifted its position in Royal Bank Of Canada by 8.0% during the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after buying an additional 1,249,589 shares during the period. Nuveen LLC purchased a new position in Royal Bank Of Canada during the first quarter valued at $114,327,000. Finally, QV Investors Inc. purchased a new position in Royal Bank Of Canada during the first quarter valued at $51,164,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

RY opened at $136.4890 on Thursday. The stock has a 50-day moving average price of $131.52 and a 200-day moving average price of $123.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $191.80 billion, a PE ratio of 15.17, a P/E/G ratio of 1.58 and a beta of 0.89. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $137.25.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%.Royal Bank Of Canada’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 EPS. Sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be given a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a dividend yield of 3.3%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.03. Royal Bank Of Canada’s payout ratio is presently 50.33%.

Wall Street Analysts Forecast Growth

RY has been the subject of several recent research reports. National Bankshares reissued a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Scotiabank initiated coverage on Royal Bank Of Canada in a research report on Thursday, May 15th. They set a “sector outperform” rating for the company. Wall Street Zen lowered Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Finally, National Bank Financial lowered Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Royal Bank Of Canada Company Profile

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, including auto financing, 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.