Gradient Investments LLC Has $2.04 Million Stock Position in Royal Bank Of Canada $RY

Gradient Investments LLC raised its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 46.8% in the 4th quarter, HoldingsChannel reports. The fund owned 11,975 shares of the financial services provider’s stock after buying an additional 3,819 shares during the quarter. Gradient Investments LLC’s holdings in Royal Bank Of Canada were worth $2,042,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Royal Bank Of Canada by 2.0% during the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after purchasing an additional 1,329,637 shares in the last quarter. Norges Bank bought a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $2,599,262,000. Canerector Inc. increased 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Royal Bank Of Canada by 3.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock valued at $1,642,712,000 after purchasing an additional 338,575 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in Royal Bank Of Canada by 1.6% in the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of RY stock opened at $161.82 on Tuesday. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The stock has a market cap of $226.17 billion, a PE ratio of 15.48, a PEG ratio of 1.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50 day moving average price is $167.78 and its two-hundred day moving average price is $158.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. The firm had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.62 EPS. As a group, analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.1%. Royal Bank Of Canada’s payout ratio is 45.93%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RY. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

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.