69,990 Shares in Royal Bank Of Canada $RY Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 69,990 shares of the financial services provider’s stock, valued at approximately $9,207,000.

A number of other hedge funds have also bought and sold shares of RY. Baskin Financial Services Inc. raised its position in Royal Bank Of Canada by 3.3% during the 2nd quarter. Baskin Financial Services Inc. now owns 64,946 shares of the financial services provider’s stock valued at $8,558,000 after purchasing an additional 2,091 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Royal Bank Of Canada by 1,187.6% during the first quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider’s stock valued at $2,901,000 after buying an additional 23,741 shares during the period. Savant Capital LLC raised its holdings in shares of Royal Bank Of Canada by 37.8% in the second quarter. Savant Capital LLC now owns 11,590 shares of the financial services provider’s stock valued at $1,525,000 after acquiring an additional 3,179 shares in the last quarter. Vise Technologies Inc. purchased a new stake in Royal Bank Of Canada in the second quarter worth about $2,780,000. Finally, Ontario Teachers Pension Plan Board bought a new position in Royal Bank Of Canada during the 2nd quarter worth about $2,670,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.1%

Shares of NYSE:RY opened at $163.23 on Wednesday. The business’s 50-day moving average is $149.04 and its 200 day moving average is $140.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $164.35. The firm has a market capitalization of $228.63 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.19 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. During the same quarter in the previous year, the firm earned $3.07 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, research analysts predict that Royal Bank Of Canada will post 9.16 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 Tuesday, February 24th. Shareholders of record on Monday, January 26th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 46.76%.

Analyst Ratings Changes

Several equities research analysts have recently commented on RY shares. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Natl Bk Canada raised Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

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.