MUFG Securities EMEA plc Makes New Investment in Royal Bank Of Canada $RY

MUFG Securities EMEA plc bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, HoldingsChannel reports. The fund bought 290,000 shares of the financial services provider’s stock, valued at approximately $49,450,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at $26,000. Johnson Financial Group Inc. bought a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC raised its holdings in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at $38,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Royal Bank Of Canada by 55.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Trending Headlines about Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $189.92 on Friday. Royal Bank Of Canada has a 1 year low of $124.19 and a 1 year high of $191.51. The firm’s fifty day simple moving average is $175.27 and its 200 day simple moving average is $168.46. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $265.45 billion, a PE ratio of 17.06, a PEG ratio of 1.49 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same period last year, the business posted $3.12 EPS. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.53 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. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RY shares. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.00.

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.