Americana Partners LLC Purchases 14,479 Shares of Royal Bank of Canada (NYSE:RY)

Americana Partners LLC raised its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 139.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,854 shares of the financial services provider's stock after acquiring an additional 14,479 shares during the period. Americana Partners LLC's holdings in Royal Bank of Canada were worth $2,513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RY. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in Royal Bank of Canada during the 4th quarter worth approximately $649,000. Spectrum Asset Management Inc. NB CA acquired a new position in Royal Bank of Canada during the 4th quarter worth approximately $202,000. Prime Capital Investment Advisors LLC acquired a new position in Royal Bank of Canada during the 4th quarter worth approximately $1,313,000. International Assets Investment Management LLC acquired a new position in Royal Bank of Canada during the 4th quarter worth approximately $1,220,441,000. Finally, Galibier Capital Management Ltd. increased its position in Royal Bank of Canada by 8,119.3% during the 4th quarter. Galibier Capital Management Ltd. now owns 321,376 shares of the financial services provider's stock worth $32,659,000 after purchasing an additional 317,466 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RY shares. StockNews.com cut Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Tuesday, February 6th. BMO Capital Markets upgraded Royal Bank of Canada from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $140.00 to $150.00 in a report on Friday. Jefferies Financial Group started coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They issued a "hold" rating on the stock. Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an "equal weight" rating on the stock. Finally, Bank of America upgraded Royal Bank of Canada from a "neutral" rating to a "buy" rating in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $137.67.

Royal Bank of Canada Stock Performance

Shares of RY traded up $1.36 during mid-day trading on Friday, reaching $102.34. 743,631 shares of the company's stock traded hands, compared to its average volume of 1,112,451. The business's 50-day moving average price is $98.66 and its 200-day moving average price is $93.51. The stock has a market capitalization of $144.78 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.76 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $102.54.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The company had revenue of $9.98 billion for the quarter, compared to analysts' expectations of $10.10 billion. Equities analysts predict that Royal Bank of Canada will post 8.5 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 24th. This represents a $4.08 annualized dividend and a yield of 3.99%. Royal Bank of Canada's payout ratio is presently 37.66%.

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.