Royal Bank of Canada (NYSE:RY) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,445 shares of the financial services provider’s stock after purchasing an additional 1,091 shares during the quarter. Ritholtz Wealth Management’s holdings in Royal Bank of Canada were worth $1,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. grew its stake in Royal Bank of Canada by 7.7% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 774,552 shares of the financial services provider’s stock worth $78,740,000 after purchasing an additional 55,291 shares in the last quarter. Trust Co of the South acquired a new position in Royal Bank of Canada during the 4th quarter worth $2,510,000. Schechter Investment Advisors LLC grew its stake in Royal Bank of Canada by 11.1% during the 4th quarter. Schechter Investment Advisors LLC now owns 4,467 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 447 shares in the last quarter. Aprio Wealth Management LLC lifted its holdings in Royal Bank of Canada by 7.0% during the 4th quarter. Aprio Wealth Management LLC now owns 17,904 shares of the financial services provider’s stock worth $1,811,000 after buying an additional 1,166 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Royal Bank of Canada by 163.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock worth $16,271,000 after buying an additional 99,523 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 0.5 %

Royal Bank of Canada stock opened at $100.88 on Friday. The company has a market capitalization of $142.71 billion, a P/E ratio of 12.71, a PEG ratio of 1.72 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $102.07. The stock has a 50-day simple moving average of $98.37 and a 200-day simple moving average of $92.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. Equities research analysts expect that Royal Bank of Canada will post 8.5 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a $1.0207 dividend. This represents a $4.08 annualized dividend and a yield of 4.05%. The ex-dividend date is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is 37.66%.

Analysts Set New Price Targets

RY has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating for the company. Bank of America raised Royal Bank of Canada from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Finally, Barclays assumed coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $131.50.

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.