Royal Bank Of Canada $RY Position Raised by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 103.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,556 shares of the financial services provider’s stock after purchasing an additional 5,885 shares during the quarter. QRG Capital Management Inc.’s holdings in Royal Bank Of Canada were worth $1,869,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RY. Harvest Fund Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada in the 4th quarter worth $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada during the fourth quarter worth about $26,000. Key Financial Inc grew its holdings in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 63 shares during the period. Maseco LLP raised its position in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada in the third quarter worth about $27,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

NYSE RY opened at $209.19 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $209.64. The company has a market cap of $290.72 billion, a PE ratio of 18.80, a PEG ratio of 1.65 and a beta of 0.80. The stock’s 50-day moving average price is $192.78 and its two-hundred day moving average price is $177.13.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the company posted $3.12 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

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.