Fiera Capital Corp Acquires 108,484 Shares of Royal Bank Of Canada (NYSE:RY)

Key Points

• Fiera Capital Corp increased its stake in the Royal Bank of Canada by purchasing an additional 108,484 shares, raising its total ownership to approximately 4.74 million shares, representing 1.9% of its portfolio.
• Royal Bank of Canada will pay a quarterly dividend of $1.1152 per share on August 22, 2023, reflecting an increase from its previous dividend and a yield of 3.42%.
• The bank's latest earnings report revealed an EPS of $2.20, falling short of the expected $2.25, with revenues reported at $11.38 billion, below analysts' estimates of $15.77 billion.

Fiera Capital Corp lifted its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,741,694 shares of the financial services provider's stock after buying an additional 108,484 shares during the quarter. Royal Bank Of Canada comprises approximately 1.9% of Fiera Capital Corp's holdings, making the stock its 14th largest position. Fiera Capital Corp owned 0.34% of Royal Bank Of Canada worth $534,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RY. Park Square Financial Group LLC bought a new stake in Royal Bank Of Canada in the 4th quarter valued at $25,000. Sunbelt Securities Inc. increased its holdings in Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after buying an additional 250 shares during the period. Optiver Holding B.V. bought a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $35,000. Transce3nd LLC bought a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $37,000. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after purchasing an additional 257 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RY has been the topic of several analyst reports. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Scotiabank began coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued 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 a consensus price target of $193.00.

Royal Bank Of Canada Trading Down 0.7%

Royal Bank Of Canada stock traded down $0.86 during trading hours on Tuesday, reaching $129.59. 834,944 shares of the company's stock traded hands, compared to its average volume of 1,232,594. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a fifty-two week low of $102.89 and a fifty-two week high of $134.26. The firm has a market capitalization of $182.79 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.49 and a beta of 0.89. The firm's 50 day moving average is $129.69 and its 200-day moving average is $121.75.

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 analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The business had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. During the same quarter in the previous year, the company posted $2.92 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. On average, 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 company also recently declared 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. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 50.33%.

About Royal Bank Of Canada

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.