OneAscent Family Office LLC Makes New $630,000 Investment in Royal Bank Of Canada $RY

OneAscent Family Office LLC bought a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,044 shares of the financial services provider’s stock, valued at approximately $630,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter worth $571,000. Greenspring Advisors LLC bought a new stake in shares of Royal Bank Of Canada in the second quarter worth $286,000. Kilter Group LLC purchased a new stake in Royal Bank Of Canada during the second quarter valued at $40,000. Reliant Investment Partners LLC purchased a new stake in Royal Bank Of Canada during the second quarter valued at $268,000. Finally, Ninepoint Partners LP bought a new position in Royal Bank Of Canada in the second quarter valued at about $29,768,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 1.1%

NYSE RY opened at $205.27 on Friday. Royal Bank Of Canada has a 52 week low of $135.92 and a 52 week high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $284.63 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. The stock’s 50-day moving average price is $208.46 and its 200-day moving average price is $186.53.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating 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 firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 EPS. On average, equities research analysts predict that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company 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 is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 44.56%.

Analyst Ratings Changes

Several brokerages have issued reports on RY. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. One equities research 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 MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target 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.