Clear Trail Advisors LLC Takes $1.29 Million Position in Royal Bank Of Canada $RY

Clear Trail Advisors LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,545 shares of the financial services provider’s stock, valued at approximately $1,286,000.

Several other hedge funds have also recently bought and sold shares of RY. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada during the third quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Royal Bank Of Canada in the third quarter worth $29,000. True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada in the third quarter worth $31,000. Atlantic Union Bankshares Corp purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at $38,000. Finally, CoreCap Advisors LLC raised its stake in shares of Royal Bank Of Canada by 103.8% in 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 period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

RY opened at $161.82 on Tuesday. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $176.19. The firm has a market cap of $226.17 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.20 and a beta of 0.79. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $167.78 and a 200 day simple moving average of $158.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.62 EPS. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a $1.64 dividend. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 4.1%. Royal Bank Of Canada’s payout ratio is 45.93%.

Analysts Set New Price Targets

A number of analysts recently weighed in on RY shares. UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. TD Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Jefferies Financial Group lowered Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target 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.