Rockefeller Capital Management L.P. Buys 134,796 Shares of Royal Bank Of Canada $RY

Rockefeller Capital Management L.P. grew its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 52.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 393,185 shares of the financial services provider’s stock after buying an additional 134,796 shares during the period. Rockefeller Capital Management L.P.’s holdings in Royal Bank Of Canada were worth $67,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RY. Florida Trust Wealth Management Co lifted its stake in shares of Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after buying an additional 60 shares during the period. Fiduciary Financial Group LLC increased its stake in Royal Bank Of Canada by 3.4% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 61 shares during the period. Alta Capital Management LLC increased its stake in Royal Bank Of Canada by 4.0% during the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Royal Bank Of Canada by 1.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 74 shares in the last quarter. Finally, Burney Co. raised its holdings in Royal Bank Of Canada by 1.7% in the 4th quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.0%

Shares of RY opened at $201.66 on Friday. Royal Bank Of Canada has a 1 year low of $126.02 and a 1 year high of $202.90. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $185.68 and a 200-day simple moving average of $173.44. The stock has a market cap of $280.25 billion, a PE ratio of 18.12, a PEG ratio of 1.59 and a beta of 0.81.

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 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The business 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%.Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 EPS. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company 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 is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RY. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. One 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

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.