Royal Bank of Canada (NYSE:RY) Shares Acquired by Applied Capital LLC FL

Applied Capital LLC FL lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,148 shares of the financial services provider’s stock after buying an additional 142 shares during the period. Royal Bank of Canada makes up approximately 1.4% of Applied Capital LLC FL’s holdings, making the stock its 27th largest position. Applied Capital LLC FL’s holdings in Royal Bank of Canada were worth $1,730,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Royal Bank of Canada during the first quarter worth about $86,000. Hexagon Capital Partners LLC boosted its stake in shares of Royal Bank of Canada by 32.9% during the first quarter. Hexagon Capital Partners LLC now owns 1,269 shares of the financial services provider’s stock worth $128,000 after buying an additional 314 shares during the period. Kathmere Capital Management LLC raised its holdings in Royal Bank of Canada by 5.7% during the first quarter. Kathmere Capital Management LLC now owns 2,981 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 160 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Royal Bank of Canada by 1.6% during the first quarter. Hennessy Advisors Inc. now owns 52,400 shares of the financial services provider’s stock worth $5,286,000 after purchasing an additional 800 shares in the last quarter. Finally, Cardinal Capital Management raised its holdings in Royal Bank of Canada by 8.7% during the first quarter. Cardinal Capital Management now owns 39,271 shares of the financial services provider’s stock worth $3,962,000 after purchasing an additional 3,145 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up $1.35 during mid-day trading on Tuesday, reaching $107.33. The company had a trading volume of 275,176 shares, compared to its average volume of 1,082,070. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $109.51. 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 company has a market capitalization of $151.88 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.67 and a beta of 0.86. The stock’s 50-day simple moving average is $103.86 and its 200-day simple moving average is $100.76.

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 earnings per share for the quarter, topping 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 analysts’ expectations of $9.95 billion. On average, equities analysts predict that Royal Bank of Canada will post 8.47 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.62%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RY shares. Barclays started coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. Argus increased their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, May 31st. BMO Capital Markets cut shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. Finally, Scotiabank raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average 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.