Metis Global Partners LLC Acquires 6,312 Shares of Royal Bank of Canada (NYSE:RY)

Metis Global Partners LLC raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 68,370 shares of the financial services provider’s stock after acquiring an additional 6,312 shares during the period. Metis Global Partners LLC’s holdings in Royal Bank of Canada were worth $6,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RY. Vanguard Group Inc. raised its holdings in Royal Bank of Canada by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock worth $4,645,444,000 after purchasing an additional 717,971 shares during the period. Mackenzie Financial Corp grew its position in Royal Bank of Canada by 5.4% in the fourth quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock worth $2,718,631,000 after acquiring an additional 1,369,723 shares during the period. Bank of Nova Scotia boosted its position in shares of Royal Bank of Canada by 13.0% during the third quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock worth $2,330,506,000 after buying an additional 3,062,038 shares during the period. CIBC Asset Management Inc boosted its position in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock worth $1,088,176,000 after buying an additional 106,757 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Royal Bank of Canada by 1.6% during the third quarter. Wellington Management Group LLP now owns 10,590,914 shares of the financial services provider’s stock worth $929,810,000 after buying an additional 166,968 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Up 2.0 %

Shares of NYSE RY traded up $1.95 during trading on Friday, hitting $101.17. 2,470,596 shares of the company traded hands, compared to its average volume of 1,154,479. The company has a 50-day moving average price of $99.16 and a 200-day moving average price of $95.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $103.88. The firm has a market capitalization of $143.13 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.74 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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. The company had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. On average, equities analysts predict that Royal Bank of Canada will post 8.45 EPS 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. Shareholders of record on Thursday, April 25th will be given a $1.0207 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $4.08 annualized dividend and a yield of 4.04%. Royal Bank of Canada’s dividend payout ratio is 25.31%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, Barclays assumed coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Hold” and a consensus 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.