Quantinno Capital Management LP Has $23.95 Million Stake in Royal Bank Of Canada $RY

Key Points

• Quantinno Capital Management increased its Royal Bank of Canada stake by 22.5% in the first quarter, adding 27,204 shares to hold 148,069 shares valued at approximately $23.95 million.
• Institutional investors own 45.31% of RY, while analysts maintain a generally positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $225.
• Royal Bank of Canada exceeded quarterly earnings and revenue expectations, with EPS of $2.84 and revenue of $12.84 billion. The bank also raised its quarterly dividend to $1.76 per share, implying a 3.4% annual yield.

Quantinno Capital Management LP increased its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,069 shares of the financial services provider's stock after purchasing an additional 27,204 shares during the quarter. Quantinno Capital Management LP's holdings in Royal Bank Of Canada were worth $23,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RY. Vanguard Group Inc. lifted its holdings in Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock worth $11,529,165,000 after buying an additional 1,290,142 shares in the last quarter. FIL Ltd increased its stake in shares of Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider's stock valued at $3,965,133,000 after buying an additional 255,465 shares during the period. Norges Bank acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at $3,472,382,000. Bank of Nova Scotia raised 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 acquiring an additional 238,589 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake 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 valued at $2,389,773,000 after acquiring an additional 882,253 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent research reports. TD Securities reiterated a "buy" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.00.

Royal Bank Of Canada Stock Down 0.3%

NYSE:RY opened at $209.44 on Friday. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month 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 has a market capitalization of $290.41 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.66 and a beta of 0.80. The stock's fifty day simple moving average is $203.19 and its 200-day simple moving average is $182.18.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced 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. The business had revenue of $12.84 billion during the quarter, compared to analysts' expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.12 earnings per share. Equities research analysts expect that Royal Bank Of Canada will post 11.41 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.64. Royal Bank Of Canada's dividend payout ratio is presently 44.56%.

About Royal Bank Of Canada

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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