Checchi Capital Advisers LLC boosted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 50.2% during the second quarter, Holdings Channel reports. The firm owned 8,069 shares of the financial services provider’s stock after buying an additional 2,697 shares during the period. Checchi Capital Advisers LLC’s holdings in Royal Bank Of Canada were worth $585,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Trillium Asset Management LLC increased its stake in shares of Royal Bank Of Canada by 3.6% in the second quarter. Trillium Asset Management LLC now owns 48,059 shares of the financial services provider’s stock valued at $3,485,000 after buying an additional 1,653 shares during the period. Pinnacle Financial Partners Inc. purchased a new stake in shares of Royal Bank Of Canada during the second quarter valued at about $1,867,000. Signature Financial Management Inc. increased its stake in shares of Royal Bank Of Canada by 31.9% in the second quarter. Signature Financial Management Inc. now owns 5,965 shares of the financial services provider’s stock valued at $433,000 after buying an additional 1,443 shares during the period. Wedbush Securities Inc. increased its stake in shares of Royal Bank Of Canada by 43.0% in the second quarter. Wedbush Securities Inc. now owns 12,076 shares of the financial services provider’s stock valued at $876,000 after buying an additional 3,632 shares during the period. Finally, Cumberland Partners Ltd increased its stake in shares of Royal Bank Of Canada by 10.5% in the second quarter. Cumberland Partners Ltd now owns 345,394 shares of the financial services provider’s stock valued at $25,049,000 after buying an additional 32,715 shares during the period. 45.67% of the stock is owned by institutional investors.

Royal Bank Of Canada (NYSE RY) opened at 73.50 on Tuesday. The stock has a market capitalization of $107.08 billion, a PE ratio of 12.55 and a beta of 1.07. Royal Bank Of Canada has a 1-year low of $60.50 and a 1-year high of $76.01. The stock’s 50 day moving average price is $74.08 and its 200 day moving average price is $72.03.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 25th. The financial services provider reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.08. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $6.88 billion. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. During the same period in the previous year, the business posted $1.66 EPS. Equities research analysts forecast that Royal Bank Of Canada will post $5.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be given a $0.6439 dividend. This represents a $2.58 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio is currently 49.36%.

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Several brokerages have issued reports on RY. Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Canaccord Genuity began coverage on shares of Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $85.63.

About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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

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