Financial & Tax Architects LLC Purchases New Shares in Royal Bank Of Canada $RY

Financial & Tax Architects LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,207 shares of the financial services provider’s stock, valued at approximately $519,000.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in Royal Bank Of Canada in the 4th quarter worth about $25,000. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Maseco LLP grew its holdings in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada in the third quarter valued at approximately $27,000. Finally, Highline Wealth Partners LLC increased 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 valued at $35,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 1.0%

Shares of RY opened at $206.85 on Wednesday. Royal Bank Of Canada has a 52-week low of $127.38 and a 52-week high of $207.22. The stock has a market cap of $287.47 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. The firm’s fifty day moving average is $189.78 and its two-hundred day moving average is $175.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.12 earnings per share. Research analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RY. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

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.