Royal Bank Of Canada $RY Stock Position Raised by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Royal Bank of Canada by 7.2%, owning a total of 241,196 shares valued at approximately $27.17 million.
• Royal Bank of Canada declared a quarterly dividend of $1.1152, which reflects an annualized payout of $4.46 and a dividend yield of 3.2%.
• In its most recent earnings report, the bank reported an EPS of $2.20, which fell short of analyst expectations, while revenue was $11.38 billion compared to the expected $15.77 billion.

American Century Companies Inc. grew its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 241,196 shares of the financial services provider's stock after acquiring an additional 16,265 shares during the period. American Century Companies Inc.'s holdings in Royal Bank Of Canada were worth $27,169,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RY. Brighton Jones LLC raised its stake in shares of Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 575 shares during the period. Guggenheim Capital LLC raised its stake in shares of 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 acquiring an additional 566 shares during the period. NewEdge Advisors LLC raised its stake in shares of 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 valued at $897,000 after acquiring an additional 2,920 shares during the period. GeoWealth Management LLC raised its stake in shares of 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 valued at $102,000 after acquiring an additional 662 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Royal Bank Of Canada by 544.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,196 shares of the financial services provider's stock valued at $265,000 after acquiring an additional 1,855 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Up 6.1%

Shares of RY traded up $8.43 during midday trading on Wednesday, hitting $146.11. The company had a trading volume of 1,964,190 shares, compared to its average volume of 1,235,360. The company's 50 day moving average price is $132.21 and its 200 day moving average price is $123.59. The stock has a market cap of $205.32 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.57 and a beta of 0.89. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $147.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%.Royal Bank Of Canada's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.92 EPS. On average, equities research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, October 27th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 4.2%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.12. Royal Bank Of Canada's payout ratio is presently 50.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Scotiabank assumed coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and an average target price of $193.00.

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.