Harvest Portfolios Group Inc. Buys 37,481 Shares of Royal Bank Of Canada $RY

Harvest Portfolios Group Inc. raised its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 37.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 138,548 shares of the financial services provider’s stock after acquiring an additional 37,481 shares during the period. Harvest Portfolios Group Inc.’s holdings in Royal Bank Of Canada were worth $23,619,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RY. Canerector Inc. raised its holdings in shares of Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after purchasing an additional 13,267,800 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Royal Bank Of Canada by 603.1% in the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after purchasing an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Royal Bank Of Canada by 2.0% in the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after purchasing an additional 1,329,637 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Royal Bank Of Canada by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after purchasing an additional 740,276 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Royal Bank Of Canada by 342.7% in the third quarter. Two Sigma Investments LP now owns 543,320 shares of the financial services provider’s stock valued at $80,042,000 after purchasing an additional 420,595 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RY shares. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. 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 reaffirmed a “buy (b+)” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $183.59 on Wednesday. Royal Bank Of Canada has a one year low of $124.19 and a one year high of $185.34. The company has a market cap of $256.60 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.39 and a beta of 0.80. The firm’s fifty day moving average price is $171.17 and its two-hundred day moving average price is $166.18. 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 (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. Royal Bank Of Canada’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.62 earnings per share. Equities analysts expect that Royal Bank Of Canada will post 11.57 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is presently 45.17%.

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.