26,575 Shares in Royal Bank Of Canada (NYSE:RY) Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC acquired a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,575 shares of the financial services provider's stock, valued at approximately $2,996,000.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after acquiring an additional 575 shares during the last quarter. Rhumbline Advisers increased its position in Royal Bank Of Canada by 3.0% in the fourth quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider's stock worth $1,302,000 after purchasing an additional 310 shares during the period. Sanctuary Advisors LLC increased its position in Royal Bank Of Canada by 2.7% in the fourth quarter. Sanctuary Advisors LLC now owns 16,729 shares of the financial services provider's stock worth $2,064,000 after purchasing an additional 442 shares during the period. Global Retirement Partners LLC raised its holdings in Royal Bank Of Canada by 6.6% during the 4th quarter. Global Retirement Partners LLC now owns 12,251 shares of the financial services provider's stock worth $1,476,000 after purchasing an additional 755 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in Royal Bank Of Canada by 12.6% during the 4th quarter. Ieq Capital LLC now owns 3,218 shares of the financial services provider's stock worth $388,000 after purchasing an additional 359 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RY has been the topic of several recent research reports. Scotiabank assumed coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $127.17 on Friday. The stock has a market cap of $179.38 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. The stock has a 50-day moving average of $123.41 and a 200-day moving average of $120.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a one year low of $102.52 and a one year high of $130.00.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.92 EPS. As a group, sell-side analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.51%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio is currently 45.67%.

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.

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