State of Wisconsin Investment Board Acquires New Position in Royal Bank Of Canada $RY

State of Wisconsin Investment Board acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, Holdings Channel reports. The firm acquired 513,881 shares of the financial services provider’s stock, valued at approximately $87,721,000.

Other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC grew its holdings in shares of Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Royal Bank Of Canada by 55.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RY shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a 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 report on Monday. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Up 1.0%

NYSE RY opened at $201.02 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $201.74. The stock has a market capitalization of $279.37 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. The firm has a 50 day moving average of $183.58 and a two-hundred day moving average of $172.58.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the business posted $3.12 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is presently 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.