Royal Bank of Canada (NYSE:RY) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,089 shares of the financial services provider’s stock after purchasing an additional 435 shares during the quarter. HB Wealth Management LLC’s holdings in Royal Bank of Canada were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Norges Bank acquired a new position in Royal Bank of Canada in the fourth quarter valued at $1,583,609,000. Bank of Nova Scotia raised its position in Royal Bank of Canada by 13.0% in 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. Triasima Portfolio Management inc. purchased a new position in Royal Bank of Canada in the fourth quarter valued at about $117,087,000. National Bank of Canada FI raised its position in Royal Bank of Canada by 4.2% in the third quarter. National Bank of Canada FI now owns 19,602,058 shares of the financial services provider’s stock valued at $1,661,862,000 after purchasing an additional 797,146 shares during the period. Finally, State of Tennessee Treasury Department purchased a new position in Royal Bank of Canada in the second quarter valued at about $75,954,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 1.3 %

Shares of NYSE RY opened at $100.39 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $142.02 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.71 and a beta of 0.86. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $102.07. The stock’s 50-day simple moving average is $98.32 and its 200-day simple moving average is $92.94.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data 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. The firm had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. As a group, equities analysts anticipate that Royal Bank of Canada will post 8.5 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

RY has been the topic of several research reports. Bank of America raised Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Jefferies Financial Group began coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, Barclays began coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Hold” and a consensus price target of $131.50.

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.