Guardian Wealth Advisors LLC NC Increases Stake in Royal Bank Of Canada $RY

Guardian Wealth Advisors LLC NC boosted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 169.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,823 shares of the financial services provider’s stock after acquiring an additional 3,663 shares during the quarter. Guardian Wealth Advisors LLC NC’s holdings in Royal Bank Of Canada were worth $993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RY. Harvest Fund Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC increased its position 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 buying an additional 89 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after buying an additional 88 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent analyst reports. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY opened at $201.02 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day moving average price is $183.58 and its 200-day moving average price is $172.58. The firm has a market capitalization of $279.37 billion, a PE ratio of 18.06, a P/E/G ratio of 1.57 and a beta of 0.81. Royal Bank Of Canada has a 1 year low of $126.02 and a 1 year high of $201.74.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 earnings per share. As a group, equities research analysts expect that Royal Bank Of Canada will post 11.52 earnings per share 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. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend 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.