CenterBook Partners LP Has $11.15 Million Stake in Royal Bank Of Canada $RY

CenterBook Partners LP increased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,378 shares of the financial services provider’s stock after acquiring an additional 8,534 shares during the period. CenterBook Partners LP’s holdings in Royal Bank Of Canada were worth $11,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RY. HighTower Advisors LLC grew its position in Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Royal Bank Of Canada by 2.2% in the third quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock valued at $50,824,000 after purchasing an additional 7,278 shares in the last quarter. Fisher Asset Management LLC grew its position in Royal Bank Of Canada by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after purchasing an additional 368,534 shares in the last quarter. Rathbones Group PLC grew its position in Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after purchasing an additional 26,782 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RY. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $194.25 on Monday. The firm has a 50-day moving average of $178.35 and a 200-day moving average of $170.19. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $195.53. The company has a market cap of $269.96 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.53 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 (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating 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 company 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 firm posted $3.12 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.6%. Royal Bank Of Canada’s payout ratio is 42.41%.

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.