Focus Partners Advisor Solutions LLC Takes $2.61 Million Position in Royal Bank Of Canada $RY

Focus Partners Advisor Solutions LLC bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,609 shares of the financial services provider’s stock, valued at approximately $2,610,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State of Wyoming bought a new stake in Royal Bank Of Canada in the second quarter worth $261,000. Summit Asset Management LLC bought a new position in Royal Bank Of Canada during the second quarter valued at $801,000. Avalon Trust Co bought a new position in Royal Bank Of Canada during the second quarter valued at $103,000. Bridgewater Advisors Inc. purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter worth $1,796,000. Finally, Fiduciary Financial Group LLC grew its stake in shares of Royal Bank Of Canada by 3.5% in the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock worth $419,000 after buying an additional 68 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Up 0.8%

NYSE RY opened at $216.67 on Friday. 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 has a 52 week low of $135.92 and a 52 week high of $218.57. The firm has a market capitalization of $300.44 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.71 and a beta of 0.80. The company has a fifty day moving average of $207.42 and a two-hundred day moving average of $185.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share 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 the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.12 earnings per share. On average, analysts predict that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 44.56%.

Analysts Set New Price Targets

RY has been the topic of several recent research reports. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.