Royal Bank Of Canada $RY Shares Bought by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. increased its stake in Royal Bank of Canada by 8.6% in Q1, owning 26,482 shares valued at $2.98 million.
• Royal Bank of Canada has recently increased its quarterly dividend to $1.1152 per share, up from $1.03, reflecting a dividend yield of 3.2%.
• The stock is trading at $137.54, with a market cap of $193.27 billion and an average analyst rating of Moderate Buy with a target price of $193.00.

Harvest Portfolios Group Inc. raised its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,482 shares of the financial services provider's stock after purchasing an additional 2,093 shares during the period. Harvest Portfolios Group Inc.'s holdings in Royal Bank Of Canada were worth $2,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RY. SBI Securities Co. Ltd. lifted its holdings in shares of Royal Bank Of Canada by 13.0% during the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock worth $82,000 after purchasing an additional 84 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Royal Bank Of Canada by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after purchasing an additional 90 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 2.8% during the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock worth $378,000 after purchasing an additional 91 shares during the period. Csenge Advisory Group lifted its holdings in shares of Royal Bank Of Canada by 4.3% during the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider's stock worth $255,000 after purchasing an additional 91 shares during the period. Finally, Great Lakes Retirement Inc. lifted its holdings in Royal Bank Of Canada by 0.8% in the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

Shares of RY traded down $0.43 during trading hours on Friday, hitting $145.42. 858,667 shares of the stock were exchanged, compared to its average volume of 1,155,505. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64. The company has a market cap of $204.35 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The stock's 50-day moving average price is $133.28 and its two-hundred day moving average price is $124.12.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.26 EPS. Research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

RY has been the subject of a number of analyst reports. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Finally, Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus price target of $177.50.

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.