Royal Bank of Canada (NYSE:RY) Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,462,707 shares of the financial services provider’s stock after acquiring an additional 1,017,771 shares during the period. Royal Bank of Canada accounts for 2.7% of 1832 Asset Management L.P.’s portfolio, making the stock its 2nd largest position. 1832 Asset Management L.P.’s holdings in Royal Bank of Canada were worth $1,867,134,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RY. Banque Cantonale Vaudoise acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $34,000. Cullen Frost Bankers Inc. acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $44,000. First Horizon Advisors Inc. grew its holdings in shares of Royal Bank of Canada by 64.7% in the 4th quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock valued at $48,000 after buying an additional 185 shares during the period. Finally, Addison Advisors LLC grew its holdings in shares of Royal Bank of Canada by 131.0% in the 4th quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 1.9 %

RY traded up $1.89 during trading on Thursday, hitting $99.27. The company had a trading volume of 1,936,711 shares, compared to its average volume of 1,218,443. The company has a market capitalization of $140.44 billion, a PE ratio of 12.50, a PEG ratio of 1.67 and a beta of 0.85. Royal Bank of Canada has a one year low of $77.90 and a one year high of $103.88. The firm’s 50-day moving average price is $99.11 and its 200 day moving average price is $95.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. As a group, equities analysts expect that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be given a dividend of $1.0207 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a yield of 4.11%. Royal Bank of Canada’s payout ratio is 25.31%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RY shares. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Hold” and an average price target of $137.67.

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.