Royal Bank Of Canada $RY Stock Holdings Reduced by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. holds approximately 16.6 million shares of Royal Bank Of Canada, making it the firm's second-largest position despite reducing its holdings by 2% recently.
• Royal Bank Of Canada recently announced a dividend increase to $1.1152 per share, reflecting a positive shift from its previous dividend of $1.03, yielding around 3.3%.
• Analysts have a consensus rating of "Moderate Buy" for Royal Bank Of Canada, with one Strong Buy, four Buy ratings, and three Hold ratings, setting a price target of $193.00.

1832 Asset Management L.P. reduced its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,619,239 shares of the financial services provider's stock after selling 341,991 shares during the quarter. Royal Bank Of Canada comprises approximately 1.7% of 1832 Asset Management L.P.'s investment portfolio, making the stock its 2nd largest position. 1832 Asset Management L.P. owned about 1.18% of Royal Bank Of Canada worth $1,873,321,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Royal Bank Of Canada by 129.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after acquiring an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after purchasing an additional 3,387,971 shares during the period. Bank of Nova Scotia grew its holdings in shares of Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after purchasing an additional 1,249,589 shares during the period. Nuveen LLC purchased a new position in shares of Royal Bank Of Canada during the 1st quarter worth $114,327,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Royal Bank Of Canada by 299.7% during the 1st quarter. Ameriprise Financial Inc. now owns 841,497 shares of the financial services provider's stock worth $99,930,000 after purchasing an additional 630,969 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RY. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Wall Street Zen cut Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Scotiabank started coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, CIBC restated 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 Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Stock Down 1.2%

Shares of Royal Bank Of Canada stock traded down $1.6190 during trading on Monday, hitting $136.2610. 845,614 shares of the stock were exchanged, compared to its average volume of 1,230,081. 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 firm's 50-day moving average price is $131.87 and its 200 day moving average price is $123.37. The stock has a market cap of $191.48 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $138.34.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results 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). The business had revenue of $11.38 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $2.92 earnings per share. As a group, analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, July 24th were paid a dividend of $1.1152 per share. The ex-dividend date was Thursday, July 24th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.3%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 50.33%.

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.