Bank of New York Mellon Corp Has $223.35 Million Stock Holdings in Royal Bank Of Canada $RY

Bank of New York Mellon Corp lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,310,064 shares of the financial services provider’s stock after selling 27,068 shares during the period. Bank of New York Mellon Corp owned 0.09% of Royal Bank Of Canada worth $223,353,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tradewinds Capital Management LLC acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC grew its holdings in shares of Royal Bank Of Canada by 75.4% in the 4th 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 during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at $38,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RY. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday. 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. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Trading Down 0.4%

RY opened at $194.25 on Friday. The stock has a market capitalization of $269.95 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.54 and a beta of 0.81. Royal Bank Of Canada has a 12 month low of $126.02 and a 12 month high of $195.53. The firm’s fifty day simple moving average is $178.35 and its 200 day simple moving average is $170.02. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

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 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for 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 17.83%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 EPS. As a group, research analysts anticipate that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.6%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s 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.