Royal Bank Of Canada (NYSE:RY) Stake Increased by Intact Investment Management Inc.

Intact Investment Management Inc. grew its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 84.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 617,316 shares of the financial services provider's stock after buying an additional 282,731 shares during the quarter. Royal Bank Of Canada accounts for approximately 2.4% of Intact Investment Management Inc.'s portfolio, making the stock its 7th biggest position. Intact Investment Management Inc.'s holdings in Royal Bank Of Canada were worth $69,546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Vanguard Group Inc. raised its position in shares of Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares in the last quarter. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after acquiring an additional 921,276 shares in the last quarter. Scotia Capital Inc. raised its position in shares of Royal Bank Of Canada by 1.9% during the 4th quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock worth $1,071,536,000 after acquiring an additional 169,437 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Royal Bank Of Canada by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after acquiring an additional 1,991,364 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on RY shares. 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. Scotiabank started coverage on Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. 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 reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Finally, CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock traded down $0.90 during midday trading on Friday, hitting $127.17. The company had a trading volume of 840,186 shares, compared to its average volume of 1,139,150. The company's 50 day simple moving average is $123.41 and its 200 day simple moving average is $119.97. Royal Bank Of Canada has a 52-week low of $102.89 and a 52-week high of $130.00. The stock has a market cap of $179.38 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.46 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $11.38 billion during the quarter, compared to analysts' expectations of $15.77 billion. During the same quarter last year, the business posted $2.92 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. 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 announced 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 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 3.51%. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is 45.67%.

Royal Bank Of Canada Company 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.