Royal Bank Of Canada (NYSE:RY) is Northwest & Ethical Investments L.P.'s 4th Largest Position

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in Royal Bank of Canada by 17.1%, making it the 4th largest position in their portfolio, valued at approximately $57.29 million.
• Royal Bank of Canada reported earnings per share (EPS) of $2.20 for the last quarter, falling short of consensus estimates of $2.25, with a revenue of $11.38 billion.
• The company announced an increase in its quarterly dividend to $1.1152 per share, reflecting a dividend yield of 3.3%, which is up from the previous dividend of $1.03.

Northwest & Ethical Investments L.P. grew its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 508,296 shares of the financial services provider's stock after purchasing an additional 74,112 shares during the quarter. Royal Bank Of Canada comprises about 1.6% of Northwest & Ethical Investments L.P.'s investment portfolio, making the stock its 4th biggest position. Northwest & Ethical Investments L.P.'s holdings in Royal Bank Of Canada were worth $57,291,000 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. Brighton Jones LLC raised its holdings in shares of Royal Bank Of Canada by 33.1% during 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. Mariner LLC raised its holdings in shares of Royal Bank Of Canada by 2.7% during the 4th quarter. Mariner LLC now owns 60,467 shares of the financial services provider's stock valued at $7,287,000 after purchasing an additional 1,599 shares in the last quarter. Guggenheim Capital LLC grew its stake in Royal Bank Of Canada by 26.7% in the 4th quarter. Guggenheim Capital LLC now owns 2,687 shares of the financial services provider's stock valued at $324,000 after buying an additional 566 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Royal Bank Of Canada by 64.5% in the 4th quarter. NewEdge Advisors LLC now owns 7,444 shares of the financial services provider's stock worth $897,000 after acquiring an additional 2,920 shares during the period. Finally, GeoWealth Management LLC raised its holdings in Royal Bank Of Canada by 365.7% in the 4th quarter. GeoWealth Management LLC now owns 843 shares of the financial services provider's stock worth $102,000 after acquiring an additional 662 shares during the period. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $136.47 on Friday. The firm's 50-day moving average is $131.01 and its 200-day moving average is $122.78. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $137.25. 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 company has a market cap of $191.85 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.55 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted 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). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The company had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same quarter in the previous year, the firm posted $2.92 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share 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 issued a dividend of $1.1152 per share. This represents a $4.46 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 24th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's 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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