Live Oak Investment Partners Invests $1.03 Million in Royal Bank Of Canada $RY

Live Oak Investment Partners bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel.com reports. The fund bought 4,965 shares of the financial services provider’s stock, valued at approximately $1,028,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the 4th quarter worth $25,000. Bell Investment Advisors Inc acquired a new position in shares of Royal Bank Of Canada during the second quarter worth $32,000. Key Financial Inc grew its stake in shares of 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 purchasing an additional 63 shares in the last quarter. Finally, Maseco LLP increased its holdings 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 valued at $29,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $207.78 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a fifty day moving average price of $208.34 and a 200 day moving average price of $186.26. Royal Bank Of Canada has a 1-year low of $135.92 and a 1-year high of $218.57. The company has a market cap of $288.11 billion, a PE ratio of 18.67, a P/E/G ratio of 1.68 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.12 earnings per share. Sell-side analysts forecast that Royal Bank Of Canada will post 11.47 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is currently 44.56%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of analyst reports. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

About Royal Bank Of Canada

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.