Northern Trust Corp Boosts Holdings in Royal Bank Of Canada $RY

Northern Trust Corp lifted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268,080 shares of the financial services provider’s stock after buying an additional 147,624 shares during the quarter. Northern Trust Corp owned approximately 0.09% of Royal Bank Of Canada worth $142,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 575 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Royal Bank Of Canada by 26.7% in the fourth quarter. Guggenheim Capital LLC now owns 2,687 shares of the financial services provider’s stock worth $324,000 after buying an additional 566 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Royal Bank Of Canada by 64.5% in the fourth quarter. NewEdge Advisors LLC now owns 7,444 shares of the financial services provider’s stock worth $897,000 after buying an additional 2,920 shares during the last quarter. GeoWealth Management LLC increased its stake in shares of Royal Bank Of Canada by 365.7% in the fourth quarter. GeoWealth Management LLC now owns 843 shares of the financial services provider’s stock worth $102,000 after buying an additional 662 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Royal Bank Of Canada by 544.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,196 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 1,855 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. CIBC reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. National Bank Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Friday, May 30th. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, Wall Street Zen downgraded Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Royal Bank Of Canada Stock Up 1.2%

RY opened at $137.8750 on Friday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $138.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s fifty day moving average price is $131.87 and its two-hundred day moving average price is $123.31. The company has a market capitalization of $193.75 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.57 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same period in the previous year, the business posted $2.92 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, July 24th were paid a dividend of $1.1152 per share. This represents a $4.46 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 24th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.03. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 50.22%.

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.