Charles Schwab Investment Management Inc. Increases Stock Position in Royal Bank Of Canada (NYSE:RY)

Key Points

• Charles Schwab Investment Management Inc. increased its ownership in the Royal Bank of Canada by 0.8%, acquiring an additional 26,838 shares, bringing its total to 3,574,879 shares valued at $402.63 million.
• The Royal Bank of Canada recently declared a quarterly dividend of $1.1152, an increase from the previous dividend of $1.03, which reflects an annual yield of 3.4%.
• Royal Bank of Canada reported earnings per share (EPS) of $2.20 in its latest quarterly results, missing estimates and showing a significant decrease compared to $2.92 EPS in the same quarter last year.

Charles Schwab Investment Management Inc. lifted its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,574,879 shares of the financial services provider's stock after acquiring an additional 26,838 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.25% of Royal Bank Of Canada worth $402,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its stake 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 worth $82,000 after acquiring an additional 84 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 acquiring an additional 90 shares in the last quarter. Sivia Capital Partners LLC raised its stake 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 acquiring an additional 91 shares in the last quarter. Csenge Advisory Group raised its stake 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 acquiring an additional 91 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its stake 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 acquiring an additional 92 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on RY shares. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Scotiabank started coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Stock Performance

Shares of RY traded up $1.31 during midday trading on Tuesday, reaching $134.74. 874,952 shares of the stock were exchanged, compared to its average volume of 1,245,054. The business's 50-day moving average price is $130.33 and its 200 day moving average price is $122.41. 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 twelve month low of $106.10 and a twelve month high of $135.09. The company has a market capitalization of $189.42 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.52 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced 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 business had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. During the same quarter last year, the company posted $2.92 EPS. Royal Bank Of Canada's quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal 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 is Thursday, July 24th. This is an increase 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 payout ratio is 50.33%.

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.