Wellington Management Group LLP Increases Holdings in Royal Bank Of Canada $RY

Key Points

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Wellington Management Group LLP lifted its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 5.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,632,863 shares of the financial services provider's stock after purchasing an additional 380,953 shares during the period. Wellington Management Group LLP owned 0.54% of Royal Bank Of Canada worth $859,675,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. boosted its holdings in shares of Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 250 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada in the first quarter valued at approximately $32,000. Optiver Holding B.V. purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $35,000. Finally, Transce3nd LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. 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. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday. CIBC reissued 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. Finally, Scotiabank assumed coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $136.44 on Tuesday. The business's fifty day simple moving average is $131.19 and its 200-day simple moving average is $122.87. The company has a market cap of $191.81 billion, a PE ratio of 15.16, a PEG ratio of 1.58 and a beta of 0.89. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $137.25.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly 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 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%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 earnings per share. Analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, July 24th. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.3%. Royal Bank Of Canada's payout ratio is currently 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.

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