Clearbridge Investments LLC Grows Stock Holdings in Royal Bank Of Canada $RY

Clearbridge Investments LLC grew its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,415,117 shares of the financial services provider’s stock after buying an additional 57,201 shares during the quarter. Clearbridge Investments LLC owned 0.10% of Royal Bank Of Canada worth $241,263,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada during the fourth quarter worth approximately $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada during the third quarter worth approximately $27,000. Highline Wealth Partners LLC grew its stake in Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after buying an additional 88 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RY has been the subject of several research reports. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. 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 reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Trading Down 0.4%

NYSE RY opened at $194.25 on Friday. The company’s fifty day simple moving average is $178.35 and its 200-day simple moving average is $170.02. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $195.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market cap of $269.95 billion, a P/E ratio of 17.45, a PEG ratio of 1.53 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the previous year, the company posted $3.12 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts predict that Royal Bank Of Canada will post 11.52 EPS 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. Investors of record on Monday, July 27th will be issued a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

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.