Value Partners Investments Inc. Has $64.97 Million Position in Royal Bank of Canada (NYSE:RY)

Value Partners Investments Inc. lessened its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 675,045 shares of the financial services provider's stock after selling 80,934 shares during the quarter. Royal Bank of Canada accounts for 5.3% of Value Partners Investments Inc.'s portfolio, making the stock its 9th largest position. Value Partners Investments Inc.'s holdings in Royal Bank of Canada were worth $64,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Optas LLC purchased a new position in Royal Bank of Canada in the fourth quarter valued at $208,000. Miller Howard Investments Inc. NY increased its stake in shares of Royal Bank of Canada by 2.2% in the 4th quarter. Miller Howard Investments Inc. NY now owns 478,392 shares of the financial services provider's stock valued at $48,380,000 after purchasing an additional 10,109 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $1,257,000. Bleakley Financial Group LLC grew its stake in Royal Bank of Canada by 12.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,125 shares of the financial services provider's stock valued at $518,000 after acquiring an additional 571 shares during the period. Finally, Americana Partners LLC increased its holdings in Royal Bank of Canada by 139.6% in the 4th quarter. Americana Partners LLC now owns 24,854 shares of the financial services provider's stock worth $2,513,000 after acquiring an additional 14,479 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Down 1.8 %

RY stock traded down $1.80 on Wednesday, hitting $100.98. 1,374,112 shares of the company were exchanged, compared to its average volume of 1,220,887. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $103.88. The business's fifty day moving average is $98.88 and its two-hundred day moving average is $93.75. The stock has a market capitalization of $142.86 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The company had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $10.10 billion. As a group, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.04%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.02. Royal Bank of Canada's dividend payout ratio (DPR) is currently 37.66%.

Analysts Set New Price Targets

A number of analysts have recently commented 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. BMO Capital Markets raised Royal Bank of Canada from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. StockNews.com downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Tuesday, February 6th. Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They set an "equal weight" rating on the stock. Finally, Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently 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.