Vise Technologies Inc. Raises Stock Holdings in Royal Bank of Canada (NYSE:RY)

Vise Technologies Inc. raised its holdings in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,654 shares of the financial services provider’s stock after buying an additional 387 shares during the quarter. Vise Technologies Inc.’s holdings in Royal Bank of Canada were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Royal Bank of Canada by 27.3% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,401 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 730 shares in the last quarter. 1ST Source Bank purchased a new stake in Royal Bank of Canada during the fourth quarter worth about $208,000. Avantax Advisory Services Inc. lifted its position in shares of Royal Bank of Canada by 23.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,101 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 964 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $301,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Royal Bank of Canada in the 4th quarter valued at approximately $207,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RY. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. Barclays began coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Hold” and a consensus price target of $137.67.

View Our Latest Research Report on Royal Bank of Canada

Royal Bank of Canada Price Performance

NYSE:RY traded up $1.19 during midday trading on Wednesday, hitting $105.49. 606,136 shares of the stock were exchanged, compared to its average volume of 1,188,860. Royal Bank of Canada has a one year low of $77.90 and a one year high of $105.52. The company has a market capitalization of $149.24 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.80 and a beta of 0.85. The business has a 50-day moving average price of $99.94 and a two-hundred day moving average price of $96.48. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last announced its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.06 by $0.05. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. Sell-side analysts predict that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.87%. Royal Bank of Canada’s dividend payout ratio is currently 51.39%.

Royal Bank of Canada Profile

(Free Report)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

See Also

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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