Rockefeller Capital Management L.P. Acquires 134,796 Shares of Royal Bank Of Canada $RY

Rockefeller Capital Management L.P. lifted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 52.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 393,185 shares of the financial services provider’s stock after purchasing an additional 134,796 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Royal Bank Of Canada were worth $67,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RY. Harvest Fund Management Co. Ltd bought a new stake in Royal Bank Of Canada in the fourth quarter worth $25,000. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada during the fourth quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the third quarter worth about $27,000. Highline Wealth Partners LLC lifted its position in shares of Royal Bank Of Canada by 75.4% in the fourth 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 last quarter. Finally, Cornerstone Planning Group LLC boosted its stake 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 acquiring an additional 88 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on RY shares. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Up 0.0%

Shares of NYSE:RY opened at $201.66 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day moving average is $185.68 and its 200-day moving average is $173.44. The company has a market cap of $280.25 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.59 and a beta of 0.81. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $202.90.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts predict that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Royal Bank Of Canada Company 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.