Royal Bank Of Canada $RY Stake Boosted by World Investment Advisors

World Investment Advisors grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 49.7% during the 4th quarter, HoldingsChannel reports. The fund owned 10,506 shares of the financial services provider’s stock after acquiring an additional 3,489 shares during the period. World Investment Advisors’ holdings in Royal Bank Of Canada were worth $1,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RY. Vanguard Group Inc. boosted its position in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after purchasing an additional 1,290,142 shares during the last quarter. 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 purchasing an additional 255,465 shares in the last quarter. Norges Bank acquired a new position in Royal Bank Of Canada in the 4th quarter worth about $3,472,382,000. Bank of Nova Scotia increased its position in Royal Bank Of Canada by 1.6% in the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after purchasing an additional 238,589 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

RY opened at $201.66 on Friday. The company has a market cap of $280.25 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.59 and a beta of 0.81. The stock has a 50-day moving average of $185.68 and a 200-day moving average of $173.44. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $202.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $12.74 billion. During the same period last year, the business earned $3.12 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Royal Bank Of Canada will post 11.52 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. Shareholders 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 yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RY. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. 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 (a-)” rating in a research note on Monday, June 15th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.