Mutual Advisors LLC Makes New $257,000 Investment in Royal Bank Of Canada (NYSE:RY)

Mutual Advisors LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,182 shares of the financial services provider's stock, valued at approximately $257,000.

Other hedge funds also recently made changes to their positions in the company. Capital Investment Counsel Inc lifted its holdings in Royal Bank Of Canada by 24.4% during the 1st quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider's stock worth $1,144,000 after purchasing an additional 1,989 shares during the last quarter. Baskin Financial Services Inc. increased its stake in Royal Bank Of Canada by 5.0% during the 1st quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after acquiring an additional 3,006 shares during the period. Private Trust Co. NA increased its stake in Royal Bank Of Canada by 178.8% during the 1st quarter. Private Trust Co. NA now owns 948 shares of the financial services provider's stock worth $107,000 after acquiring an additional 608 shares during the period. Vontobel Holding Ltd. increased its stake in Royal Bank Of Canada by 4.1% during the 1st quarter. Vontobel Holding Ltd. now owns 91,555 shares of the financial services provider's stock worth $10,315,000 after acquiring an additional 3,591 shares during the period. Finally, Shilanski & Associates Inc. increased its stake in Royal Bank Of Canada by 5.5% during the 1st quarter. Shilanski & Associates Inc. now owns 33,646 shares of the financial services provider's stock worth $3,793,000 after acquiring an additional 1,758 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Royal Bank Of Canada Price Performance

RY stock traded up $1.27 during midday trading on Thursday, reaching $133.70. 126,981 shares of the stock were exchanged, compared to its average volume of 1,135,757. The stock has a market capitalization of $188.59 billion, a PE ratio of 14.84, a P/E/G ratio of 1.51 and a beta of 0.89. Royal Bank Of Canada has a 52 week low of $102.89 and a 52 week high of $133.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company has a fifty day moving average price of $126.92 and a 200 day moving average price of $120.64.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 EPS. As a group, analysts expect 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. Investors of record on Thursday, July 24th will be given a dividend of $1.1152 per share. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's payout ratio is currently 50.22%.

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.