Mount Lucas Management LP Invests $507,000 in Royal Bank Of Canada (NYSE:RY)

Mount Lucas Management LP bought a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,500 shares of the financial services provider's stock, valued at approximately $507,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Royal Bank Of Canada by 33.1% during the fourth 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. Thrivent Financial for Lutherans acquired a new stake in Royal Bank Of Canada during the 4th quarter valued at $214,000. Virtu Financial LLC acquired a new stake in Royal Bank Of Canada during the 4th quarter valued at $361,000. American Century Companies Inc. raised its stake in Royal Bank Of Canada by 6.2% during the 4th quarter. American Century Companies Inc. now owns 224,931 shares of the financial services provider's stock valued at $27,121,000 after purchasing an additional 13,230 shares during the period. Finally, Sei Investments Co. raised its stake in Royal Bank Of Canada by 6.6% during the 4th quarter. Sei Investments Co. now owns 2,007 shares of the financial services provider's stock valued at $242,000 after purchasing an additional 124 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

RY stock traded up $0.03 during mid-day trading on Friday, reaching $132.05. 677,666 shares of the stock traded hands, compared to its average volume of 1,247,192. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 52 week low of $102.89 and a 52 week high of $134.26. The business has a 50-day moving average of $129.56 and a two-hundred day moving average of $121.61. The firm has a market capitalization of $186.26 billion, a PE ratio of 14.67, a P/E/G ratio of 1.51 and a beta of 0.89.

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). The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.92 EPS. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal 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 issued a dividend of $1.1152 per share. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a dividend yield of 3.38%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 50.22%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Scotiabank started coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

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.