3,755 Shares in Royal Bank Of Canada $RY Acquired by Peak Planning Group LLC

Peak Planning Group LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,755 shares of the financial services provider’s stock, valued at approximately $640,000.

Other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada during the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada during the fourth quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada during the third quarter worth approximately $27,000. Highline Wealth Partners LLC boosted its position in Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of a number of analyst reports. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten equities research 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, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $199.58 on Friday. 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 $277.37 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.57 and a beta of 0.81. The firm’s fifty day simple moving average is $182.12 and its 200 day simple moving average is $171.76. Royal Bank Of Canada has a twelve month low of $126.02 and a twelve month high of $201.74.

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 for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.12 EPS. As a group, equities research analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

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.