Envestnet Asset Management Inc. Purchases 7,278 Shares of Royal Bank Of Canada $RY

Envestnet Asset Management Inc. increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,993 shares of the financial services provider’s stock after purchasing an additional 7,278 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $50,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Royal Bank Of Canada by 3.9% during the second quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock worth $8,567,752,000 after buying an additional 2,437,164 shares in the last quarter. TD Asset Management Inc grew its position in Royal Bank Of Canada by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock worth $4,184,220,000 after acquiring an additional 296,978 shares during the last quarter. Norges Bank acquired a new stake in Royal Bank Of Canada during the 2nd quarter valued at $2,599,262,000. Geode Capital Management LLC raised its position in Royal Bank Of Canada by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after purchasing an additional 1,910,492 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in Royal Bank Of Canada by 1.6% in the second quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on RY shares. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Natl Bk Canada upgraded Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Trading Up 2.2%

NYSE:RY opened at $174.17 on Tuesday. The company has a market cap of $243.41 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $174.61. The business has a 50 day moving average price of $168.07 and a two-hundred day moving average price of $152.20. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11.

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

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be issued a dividend of $1.64 per share. 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. Royal Bank Of Canada’s dividend payout ratio is presently 47.66%.

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.