Royal Bank Of Canada $RY is Hillsdale Investment Management Inc.'s Largest Position

Key Points

• Hillsdale Investment Management increased its Royal Bank of Canada stake by 13% in the fourth quarter, making RY its largest portfolio position at about 4.6% of assets.
• Royal Bank of Canada recently beat quarterly expectations, reporting EPS of $2.84 versus $2.81 expected and revenue of $12.84 billion versus $12.74 billion expected, with revenue up 11.4% year over year.
• The bank also raised its quarterly dividend to $1.76 per share from $1.64, implying a 3.7% yield and reflecting confidence in earnings and capital strength.

Hillsdale Investment Management Inc. boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 965,757 shares of the financial services provider's stock after acquiring an additional 111,220 shares during the period. Royal Bank Of Canada accounts for approximately 4.6% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its biggest position. Hillsdale Investment Management Inc. owned about 0.07% of Royal Bank Of Canada worth $164,934,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RY. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at about $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC grew its stake in Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Royal Bank Of Canada during the 3rd quarter valued at about $38,000. Finally, Cornerstone Planning Group LLC grew its stake in Royal Bank Of Canada by 55.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $189.92 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $265.45 billion, a P/E ratio of 17.06, a PEG ratio of 1.48 and a beta of 0.80. The company has a 50 day moving average price of $175.27 and a 200 day moving average price of $168.46. Royal Bank Of Canada has a fifty-two week low of $124.19 and a fifty-two week high of $191.51.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to analysts' expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $3.12 EPS. Equities research analysts forecast that Royal Bank Of Canada will post 11.53 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.64. Royal Bank Of Canada's dividend payout ratio is 45.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RY. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research note on Friday. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a research note on Friday. Finally, Zacks Research cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $162.00.

More Royal Bank Of Canada News

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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