Pacifica Partners Inc. Acquires 185 Shares of Royal Bank of Canada (NYSE:RY)

Pacifica Partners Inc. lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,007 shares of the financial services provider’s stock after acquiring an additional 185 shares during the period. Royal Bank of Canada accounts for about 1.8% of Pacifica Partners Inc.’s portfolio, making the stock its 17th largest position. Pacifica Partners Inc.’s holdings in Royal Bank of Canada were worth $4,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $426,000. Acadian Asset Management LLC increased its holdings in Royal Bank of Canada by 6.8% during the 3rd quarter. Acadian Asset Management LLC now owns 69,640 shares of the financial services provider’s stock worth $6,108,000 after purchasing an additional 4,461 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Royal Bank of Canada by 30.8% in the third quarter. LPL Financial LLC now owns 108,500 shares of the financial services provider’s stock valued at $9,487,000 after purchasing an additional 25,540 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Royal Bank of Canada by 3.9% during the third quarter. Stifel Financial Corp now owns 21,680 shares of the financial services provider’s stock valued at $1,896,000 after buying an additional 820 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Royal Bank of Canada by 1.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 22,489 shares of the financial services provider’s stock worth $1,966,000 after buying an additional 275 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of RY traded up $2.60 during midday trading on Monday, hitting $106.23. 814,297 shares of the company traded hands, compared to its average volume of 1,108,575. Royal Bank of Canada has a one year low of $77.90 and a one year high of $109.51. The firm has a market cap of $150.32 billion, a P/E ratio of 13.18, a PEG ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50-day moving average of $103.13 and a 200-day moving average of $100.39.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $9.95 billion. As a group, sell-side analysts predict that Royal Bank of Canada will post 8.47 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a dividend of $1.03 per share. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.88%. Royal Bank of Canada’s payout ratio is presently 50.62%.

Wall Street Analysts Forecast Growth

RY has been the subject of several analyst reports. Barclays assumed coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Finally, BMO Capital Markets lowered Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $133.25.

About Royal Bank of Canada

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.