Royal Bank Of Canada (NYSE:RY) Stock Position Boosted by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. raised its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,475 shares of the financial services provider's stock after acquiring an additional 4,413 shares during the quarter. Royal Bank Of Canada accounts for about 3.8% of Lorne Steinberg Wealth Management Inc.'s holdings, making the stock its 2nd biggest position. Lorne Steinberg Wealth Management Inc.'s holdings in Royal Bank Of Canada were worth $13,133,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 575 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of Royal Bank Of Canada by 34.5% in the fourth quarter. WASHINGTON TRUST Co now owns 780 shares of the financial services provider's stock valued at $94,000 after buying an additional 200 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Royal Bank Of Canada by 3.0% during the 4th quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider's stock worth $1,302,000 after buying an additional 310 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $29,000. Finally, Principal Securities Inc. grew its stake in Royal Bank Of Canada by 10.2% in the 4th quarter. Principal Securities Inc. now owns 9,474 shares of the financial services provider's stock valued at $1,142,000 after acquiring an additional 876 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Up 0.0%

Royal Bank Of Canada stock traded up $0.04 during trading on Thursday, reaching $128.03. The company had a trading volume of 719,839 shares, compared to its average volume of 1,139,150. Royal Bank Of Canada has a 12-month low of $102.52 and a 12-month high of $130.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50 day moving average price is $122.77 and its two-hundred day moving average price is $120.02. The firm has a market capitalization of $180.60 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.47 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data 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 company had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.92 earnings per share. As a group, equities analysts expect that Royal Bank Of Canada will post 9.16 earnings per share 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. Stockholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.48%. 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 49.78%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RY. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. 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. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Scotiabank assumed coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

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.