Royal Bank of Canada (NYSE:RY) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,956 shares of the financial services provider’s stock after acquiring an additional 831 shares during the quarter. Farther Finance Advisors LLC’s holdings in Royal Bank of Canada were worth $1,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KMG Fiduciary Partners LLC grew its position in Royal Bank of Canada by 10.8% during the first quarter. KMG Fiduciary Partners LLC now owns 19,467 shares of the financial services provider’s stock worth $2,194,000 after buying an additional 1,891 shares during the period. Sivia Capital Partners LLC raised its stake in Royal Bank of Canada by 2.8% during the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 91 shares during the period. Verum Partners LLC increased its position in shares of Royal Bank of Canada by 0.8% in the first quarter. Verum Partners LLC now owns 19,674 shares of the financial services provider’s stock worth $2,218,000 after acquiring an additional 149 shares in the last quarter. Unigestion Holding SA increased its position in shares of Royal Bank of Canada by 48.7% in the first quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider’s stock worth $23,705,000 after acquiring an additional 68,939 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Royal Bank of Canada by 16.8% in the first quarter. Harbor Investment Advisory LLC now owns 1,042 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 150 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $128.82 on Friday. The stock has a fifty day moving average of $121.41 and a 200-day moving average of $119.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a one year low of $102.44 and a one year high of $129.46. The company has a market capitalization of $181.70 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The firm had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. During the same period last year, the firm earned $2.92 earnings per share. Royal Bank of Canada’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Bank of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be paid a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.46%. Royal Bank of Canada’s dividend payout ratio is 49.78%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RY. Barclays reaffirmed an “overweight” rating on shares of Royal Bank of Canada in a report on Monday. CIBC restated an “outperform” rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Wall Street Zen downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, National Bank Financial downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.00.

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.