Aigen Investment Management LP Acquires Shares of 5,605 Royal Bank Of Canada (NYSE:RY)

Key Points

• Aigen Investment Management LP bought 5,605 shares of Royal Bank of Canada, valued at approximately $632,000, during the first quarter.
• The Royal Bank of Canada announced an increase in its quarterly dividend to $1.1152 per share, representing an annualized dividend of $4.46 with a yield of 3.3%.
• Equities analysts show mixed sentiment on RY shares, with a consensus rating of "Moderate Buy" and an average target price of $193.00.

Aigen Investment Management LP acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,605 shares of the financial services provider's stock, valued at approximately $632,000.

A number of other large investors also recently modified their holdings of RY. Baskin Financial Services Inc. increased its stake in Royal Bank Of Canada by 5.0% in the 1st quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after purchasing an additional 3,006 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Royal Bank Of Canada by 1.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock worth $38,525,000 after buying an additional 3,767 shares during the last quarter. Capital Investment Counsel Inc grew its position in shares of Royal Bank Of Canada by 24.4% in the 1st quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider's stock worth $1,144,000 after buying an additional 1,989 shares during the last quarter. Unigestion Holding SA grew its position in shares of Royal Bank Of Canada by 48.7% in the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider's stock worth $23,705,000 after buying an additional 68,939 shares during the last quarter. Finally, Diversified Trust Co grew its position in shares of Royal Bank Of Canada by 68.1% in the 1st quarter. Diversified Trust Co now owns 79,642 shares of the financial services provider's stock worth $8,977,000 after buying an additional 32,255 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Scotiabank assumed coverage on Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. National Bank Financial lowered Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Up 0.8%

Shares of NYSE RY traded up $1.10 during mid-day trading on Wednesday, hitting $135.90. 2,295,492 shares of the stock traded hands, compared to its average volume of 1,258,516. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $136.01. The company has a market cap of $191.05 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.54 and a beta of 0.89. The stock has a fifty day moving average price of $130.64 and a 200-day moving average price of $122.58.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company'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 earned $2.92 earnings per share. Research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a yield of 3.3%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 50.33%.

About Royal Bank Of Canada

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.