Harvest Portfolios Group Inc. Has $23.62 Million Holdings in Royal Bank Of Canada $RY

Harvest Portfolios Group Inc. raised its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 37.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,548 shares of the financial services provider’s stock after acquiring an additional 37,481 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Royal Bank Of Canada were worth $23,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC grew its position in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $38,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Royal Bank Of Canada by 55.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.7%

Shares of NYSE RY opened at $183.59 on Wednesday. The stock has a market cap of $256.60 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.39 and a beta of 0.80. The firm has a 50 day moving average price of $171.17 and a 200 day moving average price of $166.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a 52-week low of $124.19 and a 52-week high of $185.34.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same quarter in the previous year, the company earned $3.62 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Royal Bank Of Canada will post 11.57 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s payout ratio is presently 45.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, 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. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

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.