ARQ Wealth Advisors LLC Makes New $438,000 Investment in Royal Bank Of Canada $RY

ARQ Wealth Advisors LLC acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,706 shares of the financial services provider’s stock, valued at approximately $438,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in Royal Bank Of Canada in the fourth quarter worth $3,472,382,000. Alberta Investment Management Corp bought a new stake in Royal Bank Of Canada in the fourth quarter worth about $324,237,000. Vanguard Group Inc. boosted its position in shares of Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after buying an additional 1,290,142 shares during the period. Geode Capital Management LLC grew its position in Royal Bank Of Canada by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after acquiring an additional 882,253 shares during the last quarter. Finally, BCV Asset Management Inc. purchased a new stake in Royal Bank Of Canada in the fourth quarter worth $136,790,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RY. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Down 0.0%

RY opened at $211.08 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market cap of $293.34 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.67 and a beta of 0.80. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $211.39. The stock has a fifty day moving average price of $194.71 and a 200-day moving average price of $177.97.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.12 earnings per share. As a group, equities research analysts anticipate 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 announced 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. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.47%.

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.