Citigroup Inc. Raises Stake in Royal Bank Of Canada $RY

Citigroup Inc. boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 76.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 608,554 shares of the financial services provider’s stock after buying an additional 263,274 shares during the period. Citigroup Inc.’s holdings in Royal Bank Of Canada were worth $89,713,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RY. Brighton Jones LLC lifted its holdings in shares of Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares in the last quarter. AQR Capital Management LLC raised its position in Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 4,460 shares during the period. Sivia Capital Partners LLC raised its position in Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,934 shares during the period. Strategic Blueprint LLC lifted its stake in shares of Royal Bank Of Canada by 2.3% during the second quarter. Strategic Blueprint LLC now owns 4,738 shares of the financial services provider’s stock worth $623,000 after purchasing an additional 107 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in Royal Bank Of Canada by 13.8% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 12,021 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 1,460 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Up 1.0%

NYSE RY opened at $172.47 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $176.19. The company has a 50-day simple moving average of $169.68 and a 200-day simple moving average of $154.79. The firm has a market capitalization of $241.05 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.79.

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

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.8%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio is presently 47.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RY. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Jefferies Financial Group cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.