Miller Howard Investments Inc. NY Grows Stock Position in Royal Bank of Canada (NYSE:RY)

Miller Howard Investments Inc. NY grew its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 478,392 shares of the financial services provider's stock after buying an additional 10,109 shares during the quarter. Royal Bank of Canada accounts for approximately 1.7% of Miller Howard Investments Inc. NY's portfolio, making the stock its 24th biggest position. Miller Howard Investments Inc. NY's holdings in Royal Bank of Canada were worth $48,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $1,583,609,000. Bank of Nova Scotia boosted its stake in Royal Bank of Canada by 13.0% in the third quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider's stock valued at $2,330,506,000 after acquiring an additional 3,062,038 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth about $1,220,441,000. Triasima Portfolio Management inc. acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth about $117,087,000. Finally, National Bank of Canada FI lifted its holdings in shares of Royal Bank of Canada by 4.2% in the 3rd quarter. National Bank of Canada FI now owns 19,602,058 shares of the financial services provider's stock valued at $1,661,862,000 after purchasing an additional 797,146 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Trading Down 0.3 %

NYSE RY traded down $0.27 during mid-day trading on Tuesday, hitting $102.78. The company's stock had a trading volume of 703,334 shares, compared to its average volume of 1,218,634. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $103.88. The stock's fifty day simple moving average is $98.74 and its two-hundred day simple moving average is $93.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $145.40 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.76 and a beta of 0.86.

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

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a $1.0207 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Wednesday, April 24th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.02. Royal Bank of Canada's payout ratio is currently 37.66%.

Wall Street Analysts Forecast Growth

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

Royal Bank of Canada Company 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.