4,606 Shares in Royal Bank Of Canada $RY Acquired by MQS Management LLC

MQS Management LLC bought a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,606 shares of the financial services provider’s stock, valued at approximately $745,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Royal Bank Of Canada in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC bought a new stake in Royal Bank Of Canada during the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada during the third quarter valued at approximately $27,000. Maseco LLP raised its position in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares during the period. Finally, Highline Wealth Partners LLC boosted its stake in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Trading Up 1.0%

Royal Bank Of Canada stock opened at $206.85 on Wednesday. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $207.22. The firm’s 50 day moving average price is $189.78 and its 200-day moving average price is $175.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $287.47 billion, a P/E ratio of 18.59, a PEG ratio of 1.62 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $3.12 earnings per share. On average, equities analysts predict that Royal Bank Of Canada will post 11.45 earnings per share 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 issued a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

About Royal Bank Of Canada

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.