Royal Bank of Canada (NYSE:RY) Shares Acquired by Yousif Capital Management LLC

Yousif Capital Management LLC increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,445 shares of the financial services provider’s stock after acquiring an additional 1,590 shares during the period. Yousif Capital Management LLC’s holdings in Royal Bank of Canada were worth $2,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cigna Investments Inc. New lifted its position in shares of Royal Bank of Canada by 0.5% during the 4th quarter. Cigna Investments Inc. New now owns 26,187 shares of the financial services provider’s stock valued at $2,661,000 after buying an additional 131 shares in the last quarter. Aviance Capital Partners LLC lifted its position in shares of Royal Bank of Canada by 4.4% during the 3rd quarter. Aviance Capital Partners LLC now owns 3,628 shares of the financial services provider’s stock valued at $317,000 after buying an additional 152 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Royal Bank of Canada by 1.2% during the 4th quarter. Pacer Advisors Inc. now owns 13,008 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 154 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Royal Bank of Canada by 2.0% in the 4th quarter. Raymond James Trust N.A. now owns 7,830 shares of the financial services provider’s stock valued at $792,000 after purchasing an additional 157 shares in the last quarter. Finally, Gradient Investments LLC lifted its holdings in Royal Bank of Canada by 4.1% in the 3rd quarter. Gradient Investments LLC now owns 4,168 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.2 %

NYSE RY opened at $97.98 on Tuesday. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $103.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $99.12 and its 200-day simple moving average is $94.96. The firm has a market cap of $138.61 billion, a PE ratio of 12.34, a P/E/G ratio of 1.69 and a beta of 0.86.

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. As a group, equities analysts anticipate that Royal Bank of Canada will post 8.45 earnings per share for the current 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 4.17%. The ex-dividend date of this dividend 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 25.31%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RY. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Jefferies Financial Group began coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They issued a “hold” rating on the stock. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $140.00 to $150.00 in a report on Friday, April 5th. Finally, Barclays began coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of “Hold” and an average 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.