Royal Bank of Canada (NYSE:RY) Shares Acquired by Duality Advisers LP

Duality Advisers LP increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 33.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,862 shares of the financial services provider’s stock after purchasing an additional 12,119 shares during the quarter. Duality Advisers LP’s holdings in Royal Bank of Canada were worth $4,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Royal Bank of Canada by 3.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after purchasing an additional 15,041 shares in the last quarter. Triasima Portfolio Management inc. lifted its stake in Royal Bank of Canada by 5.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock worth $99,785,000 after acquiring an additional 50,995 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Royal Bank of Canada by 163.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock valued at $16,271,000 after acquiring an additional 99,523 shares during the period. Addenda Capital Inc. grew its position in Royal Bank of Canada by 2.1% in the 4th quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock valued at $84,547,000 after acquiring an additional 16,964 shares in the last quarter. Finally, Galibier Capital Management Ltd. increased its stake in Royal Bank of Canada by 8,119.3% during the fourth 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 institutional investors and hedge funds.

Royal Bank of Canada Stock Up 1.0 %

Shares of RY stock traded up $0.96 on Friday, reaching $97.86. 882,487 shares of the stock were exchanged, compared to its average volume of 1,212,056. The company has a market capitalization of $138.44 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.69 and a beta of 0.86. The business’s 50 day moving average price is $98.97 and its 200 day moving average price is $94.38. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.10 billion. As a group, sell-side analysts expect that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a $1.0207 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a yield of 4.17%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 37.66%.

Analysts Set New Price Targets

RY has been the subject of a number of research reports. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $140.00 to $150.00 in a report on Friday, April 5th. Jefferies Financial Group began coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They issued a “hold” rating for the company. Barclays initiated coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. One 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. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of $137.67.

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.