Royal Bank Of Canada $RY is Dixon Mitchell Investment Counsel Inc.’s 5th Largest Position

Dixon Mitchell Investment Counsel Inc. trimmed its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 871,668 shares of the financial services provider’s stock after selling 18,405 shares during the period. Royal Bank Of Canada accounts for 4.9% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 5th largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Royal Bank Of Canada were worth $148,834,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC raised its position in Royal Bank Of Canada by 75.4% in the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RY. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Weiss Ratings raised Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $199.58 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a fifty-two week low of $126.02 and a fifty-two week high of $201.74. The firm has a market capitalization of $277.37 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. The stock’s 50-day simple moving average is $182.12 and its 200-day simple moving average is $171.76.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the company earned $3.12 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.5%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.