First Trust Advisors LP Increases Position in Royal Bank Of Canada $RY

First Trust Advisors LP increased its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 331,050 shares of the financial services provider's stock after purchasing an additional 30,241 shares during the period. First Trust Advisors LP's holdings in Royal Bank Of Canada were worth $53,544,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock valued at $11,529,165,000 after acquiring an additional 1,290,142 shares during the period. FIL Ltd boosted its stake in shares of Royal Bank Of Canada by 1.1% in the fourth quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider's stock worth $3,965,133,000 after acquiring an additional 255,465 shares during the period. Norges Bank bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth about $3,472,382,000. Bank of Nova Scotia grew its position in shares of Royal Bank Of Canada by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider's stock worth $2,596,904,000 after purchasing an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider's stock worth $2,389,773,000 after purchasing an additional 882,253 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $209.13 on Monday. Royal Bank Of Canada has a 52-week low of $127.38 and a 52-week high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average is $200.93 and its 200 day moving average is $180.87. The company has a market cap of $289.98 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.66 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business had revenue of $12.84 billion during the quarter, compared to analysts' expectations of $12.74 billion. During the same period last year, the company posted $3.12 EPS. The business's revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. Royal Bank Of Canada's payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RY shares. Weiss Ratings downgraded Royal Bank Of Canada from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, June 29th. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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