Legacy Wealth Asset Management LLC Acquires 137 Shares of Royal Bank of Canada (NYSE:RY)

Legacy Wealth Asset Management LLC raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,689 shares of the financial services provider’s stock after purchasing an additional 137 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Royal Bank of Canada were worth $574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RY. Canoe Financial LP lifted its stake in shares of Royal Bank of Canada by 11,061.2% during the 4th quarter. Canoe Financial LP now owns 151,142,403 shares of the financial services provider’s stock valued at $15,285,031,000 after buying an additional 149,788,224 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Royal Bank of Canada by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 54,730,646 shares of the financial services provider’s stock worth $5,534,910,000 after acquiring an additional 1,603,427 shares during the period. TD Asset Management Inc grew its position in shares of Royal Bank of Canada by 21.7% during the fourth quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock worth $3,310,010,000 after purchasing an additional 5,810,077 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Royal Bank of Canada by 5.1% during the fourth quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock worth $2,834,219,000 after purchasing an additional 1,357,956 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Royal Bank of Canada by 5.4% during the 4th quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock valued at $2,718,631,000 after purchasing an additional 1,369,723 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 1.4 %

Shares of NYSE RY opened at $109.02 on Friday. The business has a fifty day simple moving average of $104.61 and a two-hundred day simple moving average of $101.00. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $109.60. The firm has a market cap of $154.27 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.72 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

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

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be issued a dividend of $1.03 per share. The ex-dividend date is Thursday, July 25th. This represents a $4.12 annualized dividend and a dividend yield of 3.78%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio is 50.62%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research analyst reports. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group assumed coverage on shares of Royal Bank of Canada in a report on Tuesday. They issued a “buy” rating on the stock. Barclays began coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, BMO Capital Markets lowered Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target 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.