Park Avenue Securities LLC Purchases 259 Shares of Royal Bank of Canada (NYSE:RY)

Park Avenue Securities LLC increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,769 shares of the financial services provider’s stock after purchasing an additional 259 shares during the period. Park Avenue Securities LLC’s holdings in Royal Bank of Canada were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cigna Investments Inc. New boosted its stake in Royal Bank of Canada by 0.5% in the 4th quarter. Cigna Investments Inc. New now owns 26,187 shares of the financial services provider’s stock worth $2,661,000 after purchasing an additional 131 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Royal Bank of Canada by 1.2% during the 4th quarter. Pacer Advisors Inc. now owns 13,008 shares of the financial services provider’s stock valued at $1,315,000 after acquiring an additional 154 shares during the period. Raymond James Trust N.A. lifted its stake in Royal Bank of Canada by 2.0% during the 4th quarter. Raymond James Trust N.A. now owns 7,830 shares of the financial services provider’s stock valued at $792,000 after acquiring an additional 157 shares during the period. Founders Financial Alliance LLC lifted its stake in Royal Bank of Canada by 1.5% during the 4th quarter. Founders Financial Alliance LLC now owns 11,075 shares of the financial services provider’s stock valued at $1,120,000 after acquiring an additional 168 shares during the period. Finally, CWM LLC lifted its stake in Royal Bank of Canada by 7.9% during the 4th quarter. CWM LLC now owns 2,384 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 175 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.4 %

Royal Bank of Canada stock opened at $105.98 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $109.51. The firm has a 50 day moving average of $103.86 and a 200 day moving average of $100.76. The firm has a market capitalization of $149.97 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.67 and a beta of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. The business had revenue of $10.43 billion during the quarter, compared to analyst estimates of $9.95 billion. As a group, research analysts predict that Royal Bank of Canada will post 8.47 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a dividend of $1.03 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.12%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RY. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Barclays assumed coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Argus upped their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Scotiabank raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $133.25.

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.