GAMMA Investing LLC Boosts Holdings in Royal Bank of Canada (NYSE:RY)

GAMMA Investing LLC grew its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 236,616.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,203 shares of the financial services provider's stock after acquiring an additional 14,197 shares during the quarter. GAMMA Investing LLC's holdings in Royal Bank of Canada were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Royal Bank of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 575 shares during the last quarter. Savant Capital LLC grew its position in Royal Bank of Canada by 13.3% in the 4th quarter. Savant Capital LLC now owns 7,550 shares of the financial services provider's stock valued at $910,000 after acquiring an additional 886 shares during the last quarter. WASHINGTON TRUST Co grew its position in Royal Bank of Canada by 34.5% in the 4th quarter. WASHINGTON TRUST Co now owns 780 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 200 shares during the last quarter. Rhumbline Advisers grew its position in Royal Bank of Canada by 3.0% in the 4th quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider's stock valued at $1,302,000 after acquiring an additional 310 shares during the last quarter. Finally, Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $29,000. Institutional investors own 45.31% of the company's stock.

Analysts Set New Price Targets

RY has been the topic of a number of recent research reports. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Barclays reissued an "overweight" rating on shares of Royal Bank of Canada in a research report on Monday, June 9th. Scotiabank initiated coverage on Royal Bank of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. CIBC reissued an "outperform" rating on shares of Royal Bank of Canada in a research report on Tuesday, May 20th. Finally, Wall Street Zen downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $127.80 on Friday. Royal Bank of Canada has a one year low of $102.52 and a one year high of $129.46. The company has a market cap of $180.27 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The business's 50 day moving average price is $121.79 and its 200 day moving average price is $119.93.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced 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). Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The company had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. During the same quarter in the previous year, the business posted $2.92 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that Royal Bank of Canada will post 9.16 EPS for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be paid a $1.1152 dividend. The ex-dividend date is Thursday, July 24th. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.49%. Royal Bank of Canada's payout ratio is presently 49.78%.

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.

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