Callan Family Office LLC Acquires Shares of 4,899 Royal Bank Of Canada $RY

Callan Family Office LLC purchased a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,899 shares of the financial services provider’s stock, valued at approximately $1,014,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RY. Brighton Jones LLC raised its stake in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 1,934 shares during the period. Baird Financial Group Inc. grew its position in Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after buying an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after buying an additional 3,928 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RY shares. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research report on Friday. They set a “market perform” rating for the company. Argus set a $225.00 target price 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 research note on Wednesday, July 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Trading Down 0.6%

Shares of RY stock opened at $203.99 on Tuesday. Royal Bank Of Canada has a fifty-two week low of $136.10 and a fifty-two week high of $218.57. The stock has a market cap of $282.85 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.54 and a beta of 0.80. The business has a fifty day simple moving average of $208.67 and a 200-day simple moving average of $187.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating 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 17.68%. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts forecast that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, July 27th were given a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.56%.

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.