Bleakley Financial Group LLC Has $518,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Bleakley Financial Group LLC increased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,125 shares of the financial services provider’s stock after acquiring an additional 571 shares during the quarter. Bleakley Financial Group LLC’s holdings in Royal Bank of Canada were worth $518,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $1,583,609,000. Bank of Nova Scotia increased its holdings in shares of 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 worth $2,330,506,000 after acquiring an additional 3,062,038 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $1,220,441,000. Triasima Portfolio Management inc. bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $117,087,000. Finally, National Bank of Canada FI increased its holdings in shares of 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 worth $1,661,862,000 after acquiring an additional 797,146 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 1.8 %

RY stock opened at $98.53 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $103.88. The business has a 50 day moving average price of $98.94 and a two-hundred day moving average price of $93.91. The company has a market cap of $139.39 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The company had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $10.10 billion. Analysts anticipate that Royal Bank of Canada will post 8.5 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is currently 37.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $140.00 to $150.00 in a report on Friday, April 5th. 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. Barclays began coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group initiated coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.67.

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.