2,574 Shares in Royal Bank of Canada (NYSE:RY) Acquired by SVB Wealth LLC

SVB Wealth LLC bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,574 shares of the financial services provider’s stock, valued at approximately $260,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Royal Bank of Canada by 1.4% in the third quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock valued at $4,645,444,000 after buying an additional 717,971 shares during the period. Mackenzie Financial Corp raised its stake in shares of Royal Bank of Canada by 5.4% during the fourth quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock valued at $2,718,631,000 after purchasing an additional 1,369,723 shares during the period. Bank of Nova Scotia raised its stake in shares of Royal Bank of Canada by 13.0% during the third quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock valued at $2,330,506,000 after purchasing an additional 3,062,038 shares during the period. CIBC Asset Management Inc increased its stake in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock worth $1,088,176,000 after buying an additional 106,757 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Royal Bank of Canada by 1.6% in the third quarter. Wellington Management Group LLP now owns 10,590,914 shares of the financial services provider’s stock worth $929,810,000 after buying an additional 166,968 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. Barclays initiated coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group assumed coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating on the stock. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.67.

Royal Bank of Canada Price Performance

NYSE RY opened at $99.22 on Tuesday. The stock’s 50-day moving average price is $99.00 and its two-hundred day moving average price is $94.48. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a market cap of $140.37 billion, a PE ratio of 12.50, a PEG ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $103.88.

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

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 24th. This represents a $4.08 annualized dividend and a dividend yield of 4.11%. Royal Bank of Canada’s payout ratio is presently 37.66%.

Royal Bank of Canada Company 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.