GQG Partners LLC Makes New Investment in Royal Bank Of Canada $RY

GQG Partners LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,059 shares of the financial services provider’s stock, valued at approximately $633,000.

Several other hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Key Financial Inc boosted its position in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Royal Bank Of Canada during the third quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $28,000. Finally, Maseco LLP grew its stake in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

RY opened at $204.86 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $284.06 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.62 and a beta of 0.80. The business has a fifty day simple moving average of $208.56 and a 200 day simple moving average of $186.66. Royal Bank Of Canada has a 1 year low of $135.97 and a 1 year high of $218.57.

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, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate 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 was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.12 earnings per share. Research analysts expect that Royal Bank Of Canada will post 11.59 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. 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 currently 44.56%.

Analyst Ratings Changes

RY has been the topic of a number of recent research reports. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. 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. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.00.

About Royal Bank Of Canada

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.