SCS Capital Management LLC Invests $831,000 in Royal Bank Of Canada $RY

SCS Capital Management LLC purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,016 shares of the financial services provider’s stock, valued at approximately $831,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Royal Bank Of Canada by 33.1% in the 4th 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 position 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 last quarter. Sivia Capital Partners LLC lifted its position 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 last quarter. Baird Financial Group Inc. grew its stake in Royal Bank Of Canada by 39.1% in the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after purchasing an additional 3,928 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Royal Bank Of Canada Stock Up 0.1%

Shares of Royal Bank Of Canada stock opened at $216.67 on Monday. The stock 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. Royal Bank Of Canada has a twelve month low of $135.92 and a twelve month high of $218.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $207.42 and its 200-day simple moving average is $185.32.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the business earned $3.12 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.2%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 44.56%.

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.