QV Investors Inc. Invests $51.16 Million in Royal Bank of Canada (NYSE:RY)

QV Investors Inc. purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 454,273 shares of the financial services provider's stock, valued at approximately $51,164,000. Royal Bank of Canada accounts for 5.2% of QV Investors Inc.'s investment portfolio, making the stock its 4th biggest position.

A number of other hedge funds also recently bought and sold shares of RY. Ruggaard & Associates LLC grew its stake in shares of Royal Bank of Canada by 1.8% during the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock worth $565,000 after purchasing an additional 85 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Royal Bank of Canada by 3.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after buying an additional 90 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock worth $37,000 after buying an additional 96 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Royal Bank of Canada by 0.8% during the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock worth $1,502,000 after acquiring an additional 101 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Royal Bank of Canada by 1.1% in the 4th quarter. Baird Financial Group Inc. now owns 9,904 shares of the financial services provider's stock valued at $1,194,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Stock Performance

Shares of RY stock traded down $0.30 during trading hours on Tuesday, hitting $127.57. The stock had a trading volume of 1,023,933 shares, compared to its average volume of 1,133,395. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $180.43 billion, a PE ratio of 15.44, a PEG ratio of 1.80 and a beta of 0.89. The stock's 50 day moving average is $119.03 and its 200 day moving average is $119.66. Royal Bank of Canada has a twelve month low of $102.44 and a twelve month high of $129.46.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results 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). Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The business had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. During the same quarter in the prior year, the company earned $2.92 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued 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 dividend yield of 3.50%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio (DPR) is currently 46.18%.

Analyst Ratings Changes

RY has been the subject of several recent analyst reports. National Bank Financial cut Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday. Wall Street Zen downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday. Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. CIBC reiterated an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Finally, Scotiabank initiated coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued 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 presently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

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.