Simplicity Wealth LLC Buys New Position in Royal Bank Of Canada $RY

Simplicity Wealth LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,497 shares of the financial services provider’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC boosted its position in shares of Royal Bank Of Canada by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Fisher Asset Management LLC increased its position in Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after buying an additional 368,534 shares in the last quarter. Rathbones Group PLC increased its position in Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares in the last quarter. Indivisible Partners acquired a new position in Royal Bank Of Canada during the 4th quarter worth approximately $7,335,000. Finally, MUFG Securities EMEA plc acquired a new position in Royal Bank Of Canada during the 4th quarter worth approximately $49,450,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $216.19 on Tuesday. The firm has a market capitalization of $299.77 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $135.92 and a 52 week high of $218.57. The stock has a 50 day moving average price of $207.83 and a two-hundred day moving average price of $185.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82.

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 analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $3.12 earnings per share. Equities analysts forecast that Royal Bank Of Canada will post 11.47 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 Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 44.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Company 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.