Royal Bank of Canada (NYSE:RY) Shares Acquired by Simplicity Solutions LLC

Simplicity Solutions LLC lifted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,125 shares of the financial services provider’s stock after acquiring an additional 571 shares during the period. Simplicity Solutions LLC’s holdings in Royal Bank of Canada were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Banque Cantonale Vaudoise purchased a new stake in shares of Royal Bank of Canada in the third quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $34,000. Money Concepts Capital Corp acquired a new stake in Royal Bank of Canada in the 4th quarter valued at $38,000. Cullen Frost Bankers Inc. acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $44,000. Finally, Janiczek Wealth Management LLC grew its stake in Royal Bank of Canada by 36.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.2 %

Shares of RY stock opened at $96.93 on Friday. The stock’s fifty day moving average is $98.96 and its two-hundred day moving average is $94.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $137.13 billion, a P/E ratio of 12.21, a PEG ratio of 1.67 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 $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly 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 business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Research analysts expect that Royal Bank of Canada will post 8.45 earnings per share 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, May 24th. Stockholders of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Wednesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is currently 37.66%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of research analyst reports. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $140.00 to $150.00 in a research note on Friday, April 5th. Jefferies Financial Group started coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They issued a “hold” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Finally, Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Hold” and a consensus price target of $137.67.

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.