Hillsdale Investment Management Inc. Buys 99,583 Shares of Royal Bank Of Canada $RY

Hillsdale Investment Management Inc. raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,065,340 shares of the financial services provider’s stock after purchasing an additional 99,583 shares during the quarter. Royal Bank Of Canada makes up approximately 4.7% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its largest holding. Hillsdale Investment Management Inc.’s holdings in Royal Bank Of Canada were worth $172,177,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RY. Brighton Jones LLC increased its position in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after buying an additional 575 shares during the period. AQR Capital Management LLC lifted its holdings 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 buying an additional 4,460 shares during the period. Sivia Capital Partners LLC boosted its position in Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after acquiring an additional 3,811 shares during the period. Finally, Cerity Partners LLC grew its holdings in Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after acquiring an additional 3,928 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.2%

Shares of Royal Bank Of Canada stock opened at $210.62 on Tuesday. The stock has a market capitalization of $292.71 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $212.36. The stock has a 50 day moving average price of $195.32 and a two-hundred day moving average price of $178.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same period in the prior year, the firm earned $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent analyst reports. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada 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.