Royal Bank of Canada (NYSE:RY) is Addenda Capital Inc.'s 3rd Largest Position

Addenda Capital Inc. cut its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 699,873 shares of the financial services provider's stock after selling 60,117 shares during the quarter. Royal Bank of Canada makes up approximately 3.8% of Addenda Capital Inc.'s investment portfolio, making the stock its 3rd largest position. Addenda Capital Inc.'s holdings in Royal Bank of Canada were worth $78,890,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RY. Brighton Jones LLC lifted its holdings in Royal Bank of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 575 shares during the period. PFG Investments LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $215,000. Kingswood Wealth Advisors LLC raised its stake in shares of Royal Bank of Canada by 78.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,923 shares of the financial services provider's stock worth $352,000 after buying an additional 1,287 shares during the period. Crews Bank & Trust acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $36,000. Finally, Mediolanum International Funds Ltd raised its stake in shares of Royal Bank of Canada by 104.9% during the 4th quarter. Mediolanum International Funds Ltd now owns 39,793 shares of the financial services provider's stock worth $4,775,000 after buying an additional 20,374 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RY shares. Wall Street Zen downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial downgraded Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Scotiabank started coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, CIBC reaffirmed an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Price Performance

NYSE RY traded up $0.11 during mid-day trading on Thursday, hitting $127.48. The stock had a trading volume of 367,112 shares, compared to its average volume of 1,133,459. The firm's 50 day moving average is $119.59 and its 200 day moving average is $119.76. Royal Bank of Canada has a twelve month low of $102.44 and a twelve month high of $129.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $180.31 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). The firm had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.92 earnings per share. Equities research analysts forecast that Royal Bank of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.50%. Royal Bank of Canada's dividend payout ratio is currently 47.56%.

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.