Royal Bank Of Canada (NYSE:RY) Position Cut by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. decreased its stake 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 13F filing with the SEC. The firm owned 55,580 shares of the financial services provider's stock after selling 2,242 shares during the quarter. Royal Bank Of Canada comprises 8.4% of Summerhill Capital Management lnc.'s portfolio, making the stock its 6th biggest holding. Summerhill Capital Management lnc.'s holdings in Royal Bank Of Canada were worth $6,267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after buying an additional 1,104,975 shares during the period. Norges Bank purchased a new position in Royal Bank Of Canada during the 4th quarter valued at $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Royal Bank Of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after acquiring an additional 921,276 shares during the last quarter. Scotia Capital Inc. increased its stake in Royal Bank Of Canada by 1.9% in the fourth quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock worth $1,071,536,000 after purchasing an additional 169,437 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Royal Bank Of Canada by 31.2% during 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 purchasing an additional 1,991,364 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $128.30 on Wednesday. The company's 50 day moving average is $123.91 and its 200 day moving average is $120.03. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm has a market cap of $180.97 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.46 and a beta of 0.89. Royal Bank Of Canada has a 52-week low of $102.89 and a 52-week high of $130.00.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data 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 15.75% and a net margin of 13.37%. The company 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 company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared 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 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 3.48%. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 45.67%.

Wall Street Analyst Weigh In

Several research analysts recently commented on RY shares. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Scotiabank initiated coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Wall Street Zen cut Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average 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.

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