Royal Bank Of Canada (NYSE:RY) is Alberta Investment Management Corp's 3rd Largest Position

Key Points

• Alberta Investment Management Corp has increased its holdings in Royal Bank of Canada by 1.7%, making it the fund's 3rd largest position, accounting for approximately 2.8% of its portfolio.
• The Royal Bank of Canada recently increased its quarterly dividend to $1.1152 per share, up from $1.03, representing an annualized yield of 3.5%.
• Despite a miss in earnings for the most recent quarter, analysts maintain a consensus rating of "Moderate Buy" for the stock with a price target of $193.00.

Alberta Investment Management Corp boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,645,211 shares of the financial services provider's stock after buying an additional 61,394 shares during the quarter. Royal Bank Of Canada accounts for about 2.8% of Alberta Investment Management Corp's portfolio, making the stock its 3rd largest holding. Alberta Investment Management Corp owned about 0.26% of Royal Bank Of Canada worth $410,553,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its stake in shares of Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock worth $82,000 after purchasing an additional 84 shares during the period. Ruggaard & Associates LLC grew its stake in shares of Royal Bank Of Canada by 1.8% during the 4th 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 during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 purchasing an additional 90 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Royal Bank Of Canada by 2.8% during the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock worth $378,000 after purchasing an additional 91 shares during the period. Finally, Csenge Advisory Group grew its stake in Royal Bank Of Canada by 4.3% in the 1st quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock valued at $255,000 after acquiring an additional 91 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently 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. Scotiabank began coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. One equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Stock Down 0.8%

Shares of NYSE RY opened at $128.41 on Friday. The firm has a market cap of $180.52 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.48 and a beta of 0.89. 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's 50 day moving average is $129.80 and its two-hundred day moving average is $121.87.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The business had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. During the same quarter last year, the company earned $2.92 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is presently 50.22%.

Royal Bank Of Canada 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.

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