6,404 Shares in Royal Bank Of Canada (NYSE:RY) Acquired by University of Texas Texas AM Investment Management Co.

Key Points

• The University of Texas Texas AM Investment Management Co. acquired 6,404 shares of the Royal Bank of Canada, valued at approximately $722,000, during the first quarter.
• Royal Bank of Canada reported $2.20 earnings per share for the latest quarter, missing the consensus estimate of $2.25 by ($0.05), while revenue was $11.38 billion compared to expectations of $15.77 billion.
• The company recently declared a quarterly dividend of $1.1152 per share, marking an increase from its previous dividend of $1.03, and a dividend yield of 3.38%.

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,404 shares of the financial services provider's stock, valued at approximately $722,000.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC grew its stake in Royal Bank Of Canada by 3.5% during the 1st quarter. LPL Financial LLC now owns 142,392 shares of the financial services provider's stock valued at $16,050,000 after acquiring an additional 4,784 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Royal Bank Of Canada by 5.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,921 shares of the financial services provider's stock worth $61,824,000 after purchasing an additional 27,523 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Royal Bank Of Canada by 3.9% in the first quarter. HB Wealth Management LLC now owns 5,343 shares of the financial services provider's stock valued at $602,000 after purchasing an additional 199 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Royal Bank Of Canada by 0.9% in the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock valued at $3,549,520,000 after purchasing an additional 277,466 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Royal Bank Of Canada by 4.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 197,991 shares of the financial services provider's stock valued at $22,332,000 after purchasing an additional 8,600 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RY. 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. Scotiabank began coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Cibc World Mkts raised Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Stock Down 1.2%

Shares of NYSE RY traded down $1.58 during midday trading on Monday, hitting $130.47. 589,900 shares of the company's stock were exchanged, compared to its average volume of 1,244,503. The firm's fifty day simple moving average is $129.63 and its 200-day simple moving average is $121.70. The company has a market cap of $184.04 billion, a PE ratio of 14.50, a P/E/G ratio of 1.51 and a beta of 0.89. Royal Bank Of Canada has a twelve month low of $102.89 and a twelve month high of $134.26. 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 (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter in the prior year, the company earned $2.92 EPS. The business's revenue was up 10.7% on a year-over-year basis. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.42%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio is presently 50.33%.

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.