Royal Bank of Canada (NYSE:RY) Holdings Raised by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,249,227 shares of the financial services provider’s stock after acquiring an additional 25,866 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of Royal Bank of Canada worth $327,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RY. First Horizon Advisors Inc. boosted its stake in shares of Royal Bank of Canada by 64.7% during the 4th quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 185 shares in the last quarter. Mather Group LLC. bought a new stake in Royal Bank of Canada during the first quarter worth approximately $49,000. Addison Advisors LLC grew its holdings in Royal Bank of Canada by 131.0% during the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Heritage Wealth Advisors bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $61,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Royal Bank of Canada by 192.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after buying an additional 471 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RY has been the topic of a number of research analyst reports. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Barclays assumed coverage on shares of Royal Bank of Canada in a research note 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 objective 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, 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.25.

Royal Bank of Canada Price Performance

Shares of RY stock traded up $1.74 during trading hours on Wednesday, reaching $109.26. 155,207 shares of the company were exchanged, compared to its average volume of 1,078,071. 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 cap of $154.61 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.67 and a beta of 0.86. The stock’s fifty day moving average is $104.00 and its two-hundred day moving average is $100.82. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $109.51.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $9.95 billion. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.03 dividend. The ex-dividend date is Thursday, July 25th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.77%. 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%.

Royal Bank of Canada Company 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.