Royal Bank of Canada (NYSE:RY) Stock Position Raised by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,269 shares of the financial services provider’s stock after buying an additional 314 shares during the period. Hexagon Capital Partners LLC’s holdings in Royal Bank of Canada were worth $128,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RY. Altrius Capital Management Inc grew its position in Royal Bank of Canada by 3.3% in the 4th quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock worth $6,856,000 after purchasing an additional 2,165 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Royal Bank of Canada by 3.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after purchasing an additional 15,041 shares during the last quarter. Triasima Portfolio Management inc. grew its position in Royal Bank of Canada by 5.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock worth $99,785,000 after purchasing an additional 50,995 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Royal Bank of Canada by 163.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock worth $16,271,000 after purchasing an additional 99,523 shares during the last quarter. Finally, Addenda Capital Inc. grew its position in Royal Bank of Canada by 2.1% in the 4th quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock worth $84,547,000 after purchasing an additional 16,964 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

RY stock traded down $0.40 on Monday, hitting $105.98. 419,880 shares of the company’s stock traded hands, compared to its average volume of 1,088,627. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $109.51. The stock has a market cap of $149.97 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.67 and a beta of 0.86. The stock has a fifty day moving average of $103.86 and a 200-day moving average of $100.76. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.03 by $0.12. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. The business had revenue of $10.43 billion during the quarter, compared to analyst estimates of $9.95 billion. On average, analysts forecast that Royal Bank of Canada will post 8.47 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 Friday, August 23rd. Investors of record on Thursday, July 25th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, July 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio is 50.62%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RY shares. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Barclays assumed coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Argus upped their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.25.

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.