Macquarie Group Ltd. acquired a new stake in shares of Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,420 shares of the financial services provider’s stock, valued at approximately $327,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Royal Bank of Canada by 5.3% in the first quarter. BlackRock Inc. now owns 817,482 shares of the financial services provider’s stock worth $90,144,000 after purchasing an additional 41,346 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Royal Bank of Canada by 5.7% during the first quarter. Raymond James Trust N.A. now owns 7,030 shares of the financial services provider’s stock valued at $775,000 after acquiring an additional 382 shares during the period. Blair William & Co. IL lifted its position in shares of Royal Bank of Canada by 2.0% in the first quarter. Blair William & Co. IL now owns 23,498 shares of the financial services provider’s stock valued at $2,591,000 after acquiring an additional 458 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Royal Bank of Canada by 47.1% in the first quarter. Sequoia Financial Advisors LLC now owns 4,942 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 1,582 shares during the period. Finally, Thomas White International Ltd. grew its position in shares of Royal Bank of Canada by 4.6% during the first quarter. Thomas White International Ltd. now owns 15,778 shares of the financial services provider’s stock worth $1,740,000 after purchasing an additional 701 shares in the last quarter. 42.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RY has been the subject of a number of research analyst reports. Credit Suisse Group increased their price objective on shares of Royal Bank of Canada from $138.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Barclays lifted their price target on shares of Royal Bank of Canada from $122.00 to $124.00 and gave the company an “underweight” rating in a report on Monday, August 21st. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.60.
Royal Bank of Canada Stock Down 1.7 %
Shares of NYSE:RY opened at $89.57 on Friday. The firm has a market capitalization of $125.61 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50 day simple moving average of $93.33 and a two-hundred day simple moving average of $94.66. Royal Bank of Canada has a 1 year low of $83.63 and a 1 year high of $104.72.
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings results on Thursday, August 24th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.14. Royal Bank of Canada had a return on equity of 15.43% and a net margin of 13.51%. The business had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $9.54 billion. On average, equities analysts predict that Royal Bank of Canada will post 8.31 EPS for the current year.
Royal Bank of Canada Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be paid a $1.019 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.00. This represents a $4.08 dividend on an annualized basis and a yield of 4.55%. Royal Bank of Canada’s dividend payout ratio (DPR) is 52.92%.
Royal Bank of Canada Profile
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.
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