Scotia Capital Inc. Buys 33,183 Shares of Royal Bank Of Canada (NYSE:RY)

Key Points

• Scotia Capital Inc. increased its stake in Royal Bank of Canada by 0.4% in Q1, now holding approximately 8.92 million shares, valued at over $1 billion, making it the firm's largest investment.
• The Royal Bank of Canada recently announced a quarterly dividend of $1.1152, up from its previous $1.03, resulting in an annualized dividend yield of 3.5%.
• Royal Bank of Canada's stock has seen fluctuations, reaching a 52-week low of $102.89 and a high of $134.26, with its most recent opening price at $128.64.

Scotia Capital Inc. increased its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,924,206 shares of the financial services provider's stock after acquiring an additional 33,183 shares during the quarter. Royal Bank Of Canada makes up 5.4% of Scotia Capital Inc.'s holdings, making the stock its largest holding. Scotia Capital Inc. owned about 0.63% of Royal Bank Of Canada worth $1,003,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. lifted its stake in 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. Ruggaard & Associates LLC increased its stake in Royal Bank Of Canada by 1.8% during the 4th quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock worth $565,000 after purchasing an additional 85 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Royal Bank Of Canada by 3.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after acquiring an additional 90 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Royal Bank Of Canada by 2.8% in the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after acquiring an additional 91 shares during the period. Finally, Csenge Advisory Group boosted 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 acquiring an additional 91 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Up 0.1%

Shares of NYSE:RY traded up $0.19 during trading hours on Tuesday, hitting $130.11. The company's stock had a trading volume of 136,993 shares, compared to its average volume of 1,240,547. The company has a market capitalization of $182.90 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.47 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 52 week low of $105.31 and a 52 week high of $134.26. The firm's fifty day moving average price is $129.84 and its 200 day moving average price is $122.04.

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 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.92 EPS. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's payout ratio is presently 50.33%.

Analyst Ratings Changes

Several equities analysts recently commented on RY shares. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Finally, CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Bank Of Canada has an average rating of "Moderate Buy" and an average price target 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.