Federated Hermes Inc. Has $6.68 Million Stock Position in Royal Bank Of Canada $RY

Federated Hermes Inc. lessened its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,367 shares of the financial services provider’s stock after selling 19,897 shares during the period. Federated Hermes Inc.’s holdings in Royal Bank Of Canada were worth $6,683,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp bought a new position in Royal Bank Of Canada during the third quarter valued at approximately $29,000. True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada in the third quarter worth about $31,000. CoreCap Advisors LLC increased its holdings in shares of Royal Bank Of Canada by 103.8% during the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 138 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at about $51,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Royal Bank Of Canada by 86.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 180 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $168.59 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $235.61 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. The firm has a fifty day moving average price of $166.32 and a two-hundred day moving average price of $150.87. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $174.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. During the same quarter in the previous year, the firm posted $3.07 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. Analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a $1.64 dividend. The ex-dividend date is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is 47.66%.

Analyst Ratings Changes

RY has been the subject of a number of recent analyst reports. Jefferies Financial Group cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

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.