GW Henssler & Associates Ltd. increased its position in shares of Royal Bank Of Canada (NYSE:RY) by 7.9% during the second quarter, Holdings Channel reports. The fund owned 39,459 shares of the company’s stock after buying an additional 2,883 shares during the period. GW Henssler & Associates Ltd.’s holdings in Royal Bank Of Canada were worth $2,332,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RY. Americafirst Capital Management LLC bought a new position in shares of Royal Bank Of Canada during the second quarter worth $139,000. Jolley Asset Management LLC raised its position in shares of Royal Bank Of Canada by 14.3% in the second quarter. Jolley Asset Management LLC now owns 2,400 shares of the company’s stock worth $142,000 after buying an additional 300 shares during the last quarter. Jag Capital Management LLC bought a new position in shares of Royal Bank Of Canada during the second quarter worth $204,000. Eqis Capital Management Inc. bought a new position in shares of Royal Bank Of Canada during the second quarter worth $269,000. Finally, Checchi Capital Advisers LLC raised its position in shares of Royal Bank Of Canada by 42.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,139 shares of the company’s stock worth $304,000 after buying an additional 1,534 shares during the last quarter. 45.07% of the stock is currently owned by hedge funds and other institutional investors.
Royal Bank Of Canada (NYSE:RY) traded up 0.27% during trading on Monday, reaching $63.05. 766,958 shares of the company’s stock were exchanged. The firm has a market cap of $93.55 billion, a price-to-earnings ratio of 12.14 and a beta of 1.14. Royal Bank Of Canada has a 12 month low of $44.37 and a 12 month high of $64.13. The firm’s 50-day moving average price is $62.01 and its 200-day moving average price is $60.80.
Royal Bank Of Canada (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.39. The firm had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Royal Bank Of Canada had a return on equity of 16.36% and a net margin of 22.91%. During the same period in the prior year, the business earned $1.66 EPS. On average, equities research analysts anticipate that Royal Bank Of Canada will post $5.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be issued a $0.6449 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.62. This represents a $2.58 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Monday, October 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 50.20%.
A number of analysts have recently issued reports on RY shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Sunday, September 11th. Barclays PLC reiterated an “underweight” rating and issued a $72.00 price objective (up from $67.00) on shares of Royal Bank Of Canada in a report on Sunday, August 21st. Scotiabank reiterated an “outperform” rating and issued a $86.00 price objective (up from $85.00) on shares of Royal Bank Of Canada in a report on Friday, August 26th. Citigroup Inc. lifted their price objective on shares of Royal Bank Of Canada from $88.00 to $89.00 and gave the company a “buy” rating in a report on Monday, August 15th. Finally, Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $83.70.
Royal Bank Of Canada Company Profile
Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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