Royal Bank of Canada (NYSE:RY) Shares Acquired by abrdn plc

abrdn plc increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the financial services provider’s stock after acquiring an additional 10,000 shares during the period. abrdn plc’s holdings in Royal Bank of Canada were worth $10,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in Royal Bank of Canada in the 3rd quarter valued at about $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Royal Bank of Canada in the 3rd quarter valued at about $34,000. Cullen Frost Bankers Inc. bought a new position in Royal Bank of Canada in the 3rd quarter valued at about $44,000. Janiczek Wealth Management LLC boosted its position in shares of Royal Bank of Canada by 36.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 197 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $105,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

RY stock opened at $98.16 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a one year low of $77.90 and a one year high of $103.88. The firm has a market capitalization of $138.87 billion, a PE ratio of 12.36, a P/E/G ratio of 1.68 and a beta of 0.86. The firm has a 50-day moving average of $99.11 and a two-hundred day moving average of $94.73.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The company had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. On average, analysts forecast that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a $1.0207 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RY. Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $137.67.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.