Corient IA LLC Acquires New Position in Royal Bank Of Canada $RY

Key Points

• Corient IA LLC has acquired a new position in Royal Bank of Canada, purchasing 3,000 shares valued at approximately $338,000.
• Royal Bank of Canada recently reported quarterly earnings of $2.20 EPS, missing estimates of $2.25, with revenue of $11.38 billion against an estimate of $15.77 billion.
• The bank has announced an increase in its quarterly dividend to $1.1152 per share, representing a yield of 3.3% with a payout ratio of 50.33%.

Corient IA LLC bought a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,000 shares of the financial services provider's stock, valued at approximately $338,000.

A number of other institutional investors have also recently bought and sold shares of RY. Northwest & Ethical Investments L.P. increased its stake in shares of Royal Bank Of Canada by 17.1% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 508,296 shares of the financial services provider's stock valued at $57,291,000 after acquiring an additional 74,112 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Royal Bank Of Canada by 1.3% during the first quarter. Raymond James Financial Inc. now owns 504,807 shares of the financial services provider's stock valued at $56,902,000 after purchasing an additional 6,640 shares during the period. American Century Companies Inc. increased its stake in Royal Bank Of Canada by 7.2% in the first quarter. American Century Companies Inc. now owns 241,196 shares of the financial services provider's stock valued at $27,169,000 after purchasing an additional 16,265 shares in the last quarter. Tacita Capital Inc raised its holdings in Royal Bank Of Canada by 0.6% in the first quarter. Tacita Capital Inc now owns 32,745 shares of the financial services provider's stock worth $3,690,000 after purchasing an additional 200 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Royal Bank Of Canada by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,246,579 shares of the financial services provider's stock worth $253,233,000 after purchasing an additional 74,198 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RY. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday. 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, Scotiabank started coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Stock Down 0.1%

Royal Bank Of Canada stock opened at $136.47 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $137.25. The company has a fifty day simple moving average of $131.01 and a 200 day simple moving average of $122.77. The company has a market cap of $191.85 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89.

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

Royal Bank Of Canada Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is 50.33%.

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.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.