Altrius Capital Management Inc Increases Stake in Royal Bank of Canada (NYSE:RY)

Altrius Capital Management Inc grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,985 shares of the financial services provider’s stock after acquiring an additional 3,224 shares during the period. Royal Bank of Canada comprises approximately 1.8% of Altrius Capital Management Inc’s portfolio, making the stock its 23rd largest position. Altrius Capital Management Inc’s holdings in Royal Bank of Canada were worth $6,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RY. Norges Bank purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $1,583,609,000. MUFG Securities EMEA plc purchased a new position in Royal Bank of Canada in the second quarter valued at $325,196,000. Toronto Dominion Bank raised its stake in Royal Bank of Canada by 10.6% in the first quarter. Toronto Dominion Bank now owns 21,119,042 shares of the financial services provider’s stock valued at $2,023,058,000 after buying an additional 2,029,807 shares in the last quarter. Triasima Portfolio Management inc. purchased a new stake in Royal Bank of Canada during the 4th quarter worth about $117,087,000. Finally, FMR LLC boosted its position in shares of Royal Bank of Canada by 8.4% during the 1st quarter. FMR LLC now owns 15,683,269 shares of the financial services provider’s stock worth $1,499,860,000 after acquiring an additional 1,211,281 shares in the last quarter. 42.02% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY traded down $0.27 during mid-day trading on Monday, reaching $87.73. 152,504 shares of the company’s stock were exchanged, compared to its average volume of 947,002. The business’s fifty day simple moving average is $85.28 and its 200-day simple moving average is $90.91. The stock has a market capitalization of $123.03 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.68 and a beta of 0.84. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $104.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, August 24th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.14. Royal Bank of Canada had a net margin of 13.51% and a return on equity of 15.43%. The company had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $9.54 billion. On average, equities research analysts expect that Royal Bank of Canada will post 8.26 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be paid a dividend of $1.019 per share. The ex-dividend date is Wednesday, October 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.00. This represents a $4.08 annualized dividend and a yield of 4.65%. Royal Bank of Canada’s dividend payout ratio is currently 51.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RY shares. Credit Suisse Group boosted their target price on Royal Bank of Canada from $138.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Barclays increased their target price on shares of Royal Bank of Canada from $122.00 to $124.00 and gave the company an “underweight” rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.60.

About Royal Bank of Canada

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.