BIP Wealth LLC Makes New Investment in Royal Bank Of Canada $RY

BIP Wealth LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,871 shares of the financial services provider’s stock, valued at approximately $660,000.

Other institutional investors have also recently made changes to their positions in the company. Florida Trust Wealth Management Co grew its stake in Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 60 shares during the period. Fiduciary Financial Group LLC lifted its holdings in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Advisory Resource Group lifted its holdings in shares of Royal Bank Of Canada by 0.8% in the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock valued at $1,342,000 after purchasing an additional 75 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 1.5% in the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $169.39 on Thursday. The stock has a market cap of $236.75 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. Royal Bank Of Canada has a fifty-two week low of $106.85 and a fifty-two week high of $176.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $166.38 and a 200-day moving average of $160.05.

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

Royal Bank Of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is presently 45.74%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent research reports. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Raymond James Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

About Royal Bank Of Canada

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.