Citizens Financial Group Inc. RI Invests $709,000 in Royal Bank Of Canada (NYSE:RY)

Key Points

• Citizens Financial Group Inc. RI has invested $709,000 in the Royal Bank of Canada, purchasing 6,288 shares during the first quarter.
• The Royal Bank of Canada recently reported earnings per share (EPS) of $2.20 for the quarter, below analysts' expectations, and had a net margin of 13.37%.
• The bank announced an increase in its quarterly dividend from $1.03 to $1.1152 per share, providing investors with a dividend yield of 3.4%.

Citizens Financial Group Inc. RI bought a new position in 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 institutional investor bought 6,288 shares of the financial services provider's stock, valued at approximately $709,000.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Royal Bank Of Canada by 129.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after buying an additional 3,990,839 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Royal Bank Of Canada by 2,170.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider's stock worth $51,000 after buying an additional 434 shares during the last quarter. Costello Asset Management INC bought a new position in Royal Bank Of Canada during the 1st quarter valued at about $68,000. Finally, Earned Wealth Advisors LLC bought a new position in Royal Bank Of Canada during the 1st quarter valued at about $200,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Up 0.1%

NYSE RY opened at $132.52 on Friday. The stock's 50-day moving average price is $130.22 and its 200-day moving average price is $122.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $134.26. The company has a market capitalization of $186.30 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results 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). 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 analysts' expectations of $15.77 billion. During the same quarter in the prior year, the business posted $2.92 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is 50.33%.

Wall Street Analysts Forecast Growth

RY has been the topic of several research analyst reports. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Scotiabank initiated coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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