SG Trading Solutions LLC Makes New $538,000 Investment in Royal Bank Of Canada $RY

SG Trading Solutions LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,155 shares of the financial services provider’s stock, valued at approximately $538,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after acquiring an additional 1,290,142 shares during the period. FIL Ltd grew its stake in Royal Bank Of Canada by 1.1% in the fourth quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after acquiring an additional 255,465 shares during the period. Norges Bank acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at $3,472,382,000. Bank of Nova Scotia increased its position in shares of Royal Bank Of Canada by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after acquiring an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after purchasing an additional 882,253 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.0%

Shares of RY stock opened at $201.66 on Friday. The company’s fifty day simple moving average is $185.68 and its two-hundred day simple moving average is $173.44. The stock has a market capitalization of $280.25 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a 1 year low of $126.02 and a 1 year high of $202.90.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter last year, the company earned $3.12 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. 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 42.41%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. 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. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

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.