TD Asset Management Inc Buys 277,466 Shares of Royal Bank Of Canada (NYSE:RY)

Key Points

• TD Asset Management Inc increased its holdings in Royal Bank Of Canada by 0.9% during the first quarter, owning approximately $3.55 billion worth of shares, making it the fund's second largest position.
• Royal Bank Of Canada reported earnings of $2.20 EPS for the latest quarter, missing analysts' expectations of $2.25 EPS, despite a year-over-year revenue increase of 10.7%.
• The bank announced a quarterly dividend increase to $1.1152 per share, reflecting a yield of 3.38% with a payout ratio of 50.22%.

TD Asset Management Inc grew its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,515,404 shares of the financial services provider's stock after purchasing an additional 277,466 shares during the period. Royal Bank Of Canada makes up approximately 3.3% of TD Asset Management Inc's holdings, making the stock its 2nd largest position. TD Asset Management Inc owned approximately 2.23% of Royal Bank Of Canada worth $3,549,520,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Baskin Financial Services Inc. increased its stake in shares of Royal Bank Of Canada by 5.0% in the 1st quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after purchasing an additional 3,006 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Royal Bank Of Canada by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock valued at $38,525,000 after acquiring an additional 3,767 shares during the last quarter. Capital Investment Counsel Inc boosted its position in Royal Bank Of Canada by 24.4% in the 1st quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider's stock valued at $1,144,000 after buying an additional 1,989 shares during the period. Unigestion Holding SA lifted its stake in Royal Bank Of Canada by 48.7% in the first quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider's stock worth $23,705,000 after acquiring an additional 68,939 shares during the period. Finally, Diversified Trust Co lifted its position in Royal Bank Of Canada by 68.1% during the first quarter. Diversified Trust Co now owns 79,642 shares of the financial services provider's stock valued at $8,977,000 after acquiring an additional 32,255 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE RY traded down $1.58 during midday trading on Monday, hitting $130.47. The stock had a trading volume of 589,900 shares, compared to its average volume of 1,244,503. The company has a market capitalization of $184.04 billion, a PE ratio of 14.50, a P/E/G ratio of 1.51 and a beta of 0.89. The stock has a 50 day simple moving average of $129.56 and a 200-day simple moving average of $121.61. Royal Bank Of Canada has a 1 year low of $102.89 and a 1 year high of $134.26. 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 (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.92 EPS. On average, sell-side analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This represents a $4.46 annualized dividend and a yield of 3.42%. This is a positive change 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 Upgrades and Downgrades

Several research firms have recently issued reports on RY. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Scotiabank assumed coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Finally, Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and an average price target 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.