Royal Bank of Canada (NYSE:RY) Shares Acquired by Mather Group LLC.

Mather Group LLC. lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 337.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,113 shares of the financial services provider’s stock after purchasing an additional 1,630 shares during the period. Mather Group LLC.’s holdings in Royal Bank of Canada were worth $213,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Canoe Financial LP raised its stake in Royal Bank of Canada by 11,061.2% during the 4th quarter. Canoe Financial LP now owns 151,142,403 shares of the financial services provider’s stock valued at $15,285,031,000 after purchasing an additional 149,788,224 shares during the period. Vanguard Group Inc. lifted its stake in Royal Bank of Canada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock worth $5,618,566,000 after acquiring an additional 964,898 shares in the last quarter. TD Asset Management Inc boosted its position in Royal Bank of Canada by 21.7% during the 4th quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock worth $3,310,010,000 after acquiring an additional 5,810,077 shares during the period. Bank of Nova Scotia boosted its position in Royal Bank of Canada by 5.1% during the 4th quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock worth $2,834,219,000 after acquiring an additional 1,357,956 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Royal Bank of Canada by 5.4% during the 4th quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock valued at $2,718,631,000 after acquiring an additional 1,369,723 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.1 %

NYSE:RY traded up $0.11 during trading hours on Wednesday, reaching $107.33. The company’s stock had a trading volume of 217,989 shares, compared to its average volume of 1,096,185. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $151.88 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86. Royal Bank of Canada has a one year low of $77.90 and a one year high of $112.67. The business’s 50-day moving average is $107.92 and its 200-day moving average is $102.64.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $9.95 billion. Equities research analysts predict that Royal Bank of Canada will post 8.59 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be paid a dividend of $1.03 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $4.12 annualized dividend and a yield of 3.84%. Royal Bank of Canada’s dividend payout ratio is presently 51.49%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. UBS Group initiated coverage on shares of Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, Argus upped their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target 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.