Baskin Financial Services Inc. Increases Stock Holdings in Royal Bank Of Canada (NYSE:RY)

Baskin Financial Services Inc. boosted its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,855 shares of the financial services provider's stock after purchasing an additional 3,006 shares during the quarter. Baskin Financial Services Inc.'s holdings in Royal Bank Of Canada were worth $7,079,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Private Trust Co. NA increased its stake in shares of Royal Bank Of Canada by 178.8% during the 1st quarter. Private Trust Co. NA now owns 948 shares of the financial services provider's stock worth $107,000 after purchasing an additional 608 shares in the last quarter. Vontobel Holding Ltd. increased its position in Royal Bank Of Canada by 4.1% during the first quarter. Vontobel Holding Ltd. now owns 91,555 shares of the financial services provider's stock worth $10,315,000 after buying an additional 3,591 shares in the last quarter. Shilanski & Associates Inc. increased its position in Royal Bank Of Canada by 5.5% during the first quarter. Shilanski & Associates Inc. now owns 33,646 shares of the financial services provider's stock worth $3,793,000 after buying an additional 1,758 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Gold Investment Management Ltd. lifted its position in shares of Royal Bank Of Canada by 3.2% in the first quarter. Gold Investment Management Ltd. now owns 45,469 shares of the financial services provider's stock valued at $5,124,000 after acquiring an additional 1,403 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Trading Up 0.8%

NYSE:RY traded up $1.01 during trading hours on Friday, reaching $132.18. 455,532 shares of the company were exchanged, compared to its average volume of 1,148,609. The firm has a market cap of $186.45 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.50 and a beta of 0.89. The stock has a 50 day simple moving average of $125.88 and a 200 day simple moving average of $120.33. Royal Bank Of Canada has a 52-week low of $102.89 and a 52-week high of $132.69. 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 (NYSE:RY - Get Free Report) TSE: RY last issued its 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). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm had revenue of $11.38 billion during the quarter, compared to analysts' expectations of $15.77 billion. During the same period last year, the business posted $2.92 earnings per share. The company's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced 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 represents a $4.46 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's payout ratio is presently 45.67%.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent research reports. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Scotiabank began coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and an average price target of $193.00.

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.