EP Wealth Advisors LLC Makes New Investment in Royal Bank Of Canada $RY

EP Wealth Advisors LLC bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, Holdings Channel.com reports. The firm bought 3,281 shares of the financial services provider’s stock, valued at approximately $679,000.

A number of other hedge funds also recently made changes to their positions in RY. Ieq Capital LLC acquired a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $4,122,000. Callan Family Office LLC acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $1,014,000. Keating Financial Advisory Services Inc. acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $47,000. OneAscent Family Office LLC bought a new position in Royal Bank Of Canada in the 2nd quarter valued at approximately $630,000. Finally, Allworth Financial LP bought a new position in Royal Bank Of Canada in the 2nd quarter valued at approximately $571,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Down 0.6%

NYSE:RY opened at $203.99 on Tuesday. Royal Bank Of Canada has a one year low of $136.10 and a one year high of $218.57. 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 cap of $282.85 billion, a PE ratio of 18.33, a P/E/G ratio of 1.54 and a beta of 0.80. The firm’s 50 day simple moving average is $208.67 and its 200 day simple moving average is $187.02.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.12 EPS. On average, research analysts anticipate that Royal Bank Of Canada will post 11.59 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, July 27th were given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 44.56%.

Analyst Ratings Changes

A number of analysts have weighed in on RY shares. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a research report on Friday. They set a “market perform” rating on the stock. Finally, Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.