Brooklyn Investment Group Makes New $214,000 Investment in Royal Bank Of Canada $RY

Key Points

• Brooklyn Investment Group has invested approximately $214,000 in 1,900 shares of the Royal Bank of Canada (NYSE: RY) during the first quarter.
• Royal Bank of Canada announced a quarterly dividend increase to $1.1152 per share, up from the previous $1.03, representing a 3.3% yield.
• Analysts currently establish Royal Bank of Canada with an average rating of "Moderate Buy" and a price target of $193.00, with various institutions adjusting their positions in the stock.

Brooklyn Investment Group purchased a new position 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 (SEC). The firm purchased 1,900 shares of the financial services provider's stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Royal Bank Of Canada by 13.0% in the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock valued at $82,000 after buying an additional 84 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Royal Bank Of Canada by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after buying an additional 90 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Royal Bank Of Canada by 2.8% in the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after buying an additional 91 shares during the period. Csenge Advisory Group boosted its holdings in shares of Royal Bank Of Canada by 4.3% in the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock valued at $255,000 after buying an additional 91 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in shares of Royal Bank Of Canada by 0.8% in the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after buying an additional 92 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Performance

NYSE:RY traded up $1.6750 on Friday, hitting $137.8750. The company's stock had a trading volume of 700,763 shares, compared to its average volume of 990,891. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $131.87 and a two-hundred day moving average of $123.31. The firm has a market capitalization of $193.74 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $138.34.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The business had revenue of $11.38 billion during 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%. Royal Bank Of Canada's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 EPS. Research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm 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 $1.1152 dividend. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is currently 50.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RY. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Scotiabank began coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Finally, Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

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.