Brown Advisory Inc. Purchases 7,307 Shares of Royal Bank Of Canada $RY

Brown Advisory Inc. lifted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,481 shares of the financial services provider’s stock after purchasing an additional 7,307 shares during the period. Brown Advisory Inc.’s holdings in Royal Bank Of Canada were worth $9,798,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RY. Vanguard Group Inc. raised its position in Royal Bank Of Canada by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after purchasing an additional 2,437,164 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Royal Bank Of Canada by 0.9% during the second quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after buying an additional 296,978 shares during the period. Norges Bank bought a new position in shares of Royal Bank Of Canada during the second quarter valued at approximately $2,599,262,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of Royal Bank Of Canada by 3.4% during the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider’s stock valued at $1,423,464,000 after acquiring an additional 420,466 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Royal Bank Of Canada by 20.2% in the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after acquiring an additional 1,910,492 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $162.48 on Monday. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $162.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $227.58 billion, a P/E ratio of 16.20, a PEG ratio of 1.18 and a beta of 0.80. The stock’s 50 day moving average is $148.39 and its 200 day moving average is $139.50.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. During the same quarter in the previous year, the business earned $3.07 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.07%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. National Bankshares restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday. Natl Bk Canada upgraded Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada 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.