Envestnet Asset Management Inc. Purchases 7,278 Shares of Royal Bank Of Canada $RY

Envestnet Asset Management Inc. boosted its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 344,993 shares of the financial services provider’s stock after purchasing an additional 7,278 shares during the period. Envestnet Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $50,824,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the period. AQR Capital Management LLC increased its holdings in shares of Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares during the period. Callan Family Office LLC bought a new stake in Royal Bank Of Canada in the 2nd quarter valued at $389,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Royal Bank Of Canada by 33.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,097 shares of the financial services provider’s stock valued at $6,196,000 after purchasing an additional 11,865 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $174.17 on Tuesday. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $174.61. The firm’s 50 day simple moving average is $168.07 and its 200 day simple moving average is $152.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $243.41 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.22 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $12.12 billion. During the same period in the prior year, the company earned $3.07 EPS. Royal Bank Of Canada’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, January 26th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s payout ratio is currently 47.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RY shares. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Jefferies Financial Group cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.00.

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.