Bleakley Financial Group LLC Raises Stock Holdings in Royal Bank of Canada (NYSE:RY)

Bleakley Financial Group LLC raised its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,125 shares of the financial services provider’s stock after purchasing an additional 571 shares during the period. Bleakley Financial Group LLC’s holdings in Royal Bank of Canada were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Americana Partners LLC grew its holdings in Royal Bank of Canada by 139.6% during the fourth quarter. Americana Partners LLC now owns 24,854 shares of the financial services provider’s stock valued at $2,513,000 after purchasing an additional 14,479 shares during the period. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Royal Bank of Canada during the fourth quarter valued at $649,000. Spectrum Asset Management Inc. NB CA bought a new position in Royal Bank of Canada during the fourth quarter valued at $202,000. Prime Capital Investment Advisors LLC bought a new position in Royal Bank of Canada during the fourth quarter valued at $1,313,000. Finally, International Assets Investment Management LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter worth $1,220,441,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Down 1.8 %

RY opened at $98.53 on Friday. The company has a market cap of $139.39 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 0.86. The business’s 50-day moving average price is $98.94 and its 200-day moving average price is $93.91. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.06 by $0.05. The firm had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. On average, equities analysts expect that Royal Bank of Canada will post 8.5 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a dividend yield of 4.14%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 37.66%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $140.00 to $150.00 in a report on Friday, April 5th. Bank of America raised Royal Bank of Canada from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Jefferies Financial Group began coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They issued a “hold” rating for the company. Finally, Barclays began coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $137.67.

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.