Value Partners Investments Inc. Acquires 275,251 Shares of Royal Bank Of Canada (NYSE:RY)

Value Partners Investments Inc. boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 574.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 323,135 shares of the financial services provider’s stock after acquiring an additional 275,251 shares during the quarter. Royal Bank Of Canada accounts for approximately 3.1% of Value Partners Investments Inc.’s investment portfolio, making the stock its 16th biggest holding. Value Partners Investments Inc.’s holdings in Royal Bank Of Canada were worth $36,436,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Royal Bank Of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after acquiring an additional 64,450 shares in the last quarter. Raymond James Financial Inc. bought a new position in Royal Bank Of Canada in the 4th quarter valued at about $60,034,000. Wealth High Governance Capital Ltda bought a new position in Royal Bank Of Canada in the 4th quarter valued at about $10,243,000. Jones Financial Companies Lllp lifted its position in Royal Bank Of Canada by 1,322.0% in the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 3,728 shares in the last quarter. Finally, Unigestion Holding SA lifted its position in Royal Bank Of Canada by 48.7% in the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider’s stock valued at $23,705,000 after acquiring an additional 68,939 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $128.07 on Thursday. The business’s 50 day simple moving average is $124.16 and its 200 day simple moving average is $120.09. Royal Bank Of Canada has a 12 month low of $102.89 and a 12 month high of $130.00. The company has a market cap of $180.65 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.48 and a beta of 0.89. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $15.77 billion. During the same period in the prior year, the business earned $2.92 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts forecast that Royal Bank Of Canada will post 9.16 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, August 22nd. Shareholders of record on Thursday, July 24th will be given a $1.1152 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.67%.

Analysts Set New Price Targets

RY has been the subject of several analyst reports. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a “sector outperform” rating for the company. CIBC reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

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.