Davis Rea LTD. Has $10.42 Million Position in Royal Bank Of Canada (NYSE:RY)

Davis Rea LTD. lifted its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 396.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,431 shares of the financial services provider's stock after purchasing an additional 73,813 shares during the quarter. Royal Bank Of Canada comprises about 2.8% of Davis Rea LTD.'s investment portfolio, making the stock its 10th largest holding. Davis Rea LTD.'s holdings in Royal Bank Of Canada were worth $10,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Royal Bank Of Canada in the fourth quarter worth about $2,425,519,000. Geode Capital Management LLC raised its position in Royal Bank Of Canada by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after acquiring an additional 1,991,364 shares in the last quarter. APG Asset Management N.V. raised its position in Royal Bank Of Canada by 1,600.9% in the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock worth $166,084,000 after acquiring an additional 1,343,174 shares in the last quarter. Mufg Securities Canada LTD. raised its position in Royal Bank Of Canada by 72.0% in the fourth quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider's stock worth $260,373,000 after acquiring an additional 904,909 shares in the last quarter. Finally, QV Investors Inc. bought a new stake in Royal Bank Of Canada in the first quarter worth about $51,164,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of RY stock traded up $0.03 during trading hours on Friday, hitting $132.05. 677,666 shares of the company's stock were exchanged, compared to its average volume of 1,247,192. The stock's 50-day moving average is $129.56 and its 200-day moving average is $121.61. 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 stock has a market cap of $186.26 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth 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 $134.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The business had revenue of $11.38 billion during 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 firm's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.92 earnings per share. As a group, research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a $1.1152 dividend. This represents a $4.46 dividend on an annualized basis and a yield of 3.38%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 50.33%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Wall Street Zen cut Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Cibc World Mkts raised Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Scotiabank initiated coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of "Moderate Buy" and a consensus target price 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.