Carret Asset Management LLC Makes New Investment in Royal Bank of Canada (NYSE:RY)

Carret Asset Management LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,050 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other large investors have also recently added to or reduced their stakes in RY. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Royal Bank of Canada by 3.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after buying an additional 15,041 shares during the last quarter. Triasima Portfolio Management inc. raised its stake in shares of Royal Bank of Canada by 5.5% in the fourth quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock valued at $99,785,000 after purchasing an additional 50,995 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Royal Bank of Canada by 163.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock valued at $16,271,000 after purchasing an additional 99,523 shares in the last quarter. Addenda Capital Inc. raised its stake in shares of Royal Bank of Canada by 2.1% in the fourth quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock valued at $84,547,000 after purchasing an additional 16,964 shares in the last quarter. Finally, Galibier Capital Management Ltd. raised its stake in shares of Royal Bank of Canada by 8,119.3% in the fourth quarter. Galibier Capital Management Ltd. now owns 321,376 shares of the financial services provider’s stock valued at $32,659,000 after purchasing an additional 317,466 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of a number of analyst reports. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Jefferies Financial Group started coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating on the stock. Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Finally, BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $140.00 to $150.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Trading Up 0.1 %

NYSE:RY traded up $0.10 during mid-day trading on Thursday, hitting $97.37. The company had a trading volume of 221,526 shares, compared to its average volume of 1,233,135. The firm has a market cap of $137.75 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.72 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average is $99.11 and its two-hundred day moving average is $94.61. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. The company had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. As a group, research analysts expect that Royal Bank of Canada will post 8.45 earnings per share 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. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is currently 25.31%.

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.