Muirfield Wealth Advisors LLC Increases Stake in Royal Bank of Canada (NYSE:RY)

Muirfield Wealth Advisors LLC grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,437 shares of the financial services provider’s stock after buying an additional 101 shares during the quarter. Royal Bank of Canada accounts for 1.6% of Muirfield Wealth Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Muirfield Wealth Advisors LLC’s holdings in Royal Bank of Canada were worth $1,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RY. Bleakley Financial Group LLC lifted its holdings in Royal Bank of Canada by 12.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,125 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 571 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Royal Bank of Canada during the fourth quarter valued at approximately $1,257,000. Cerity Partners LLC lifted its position in Royal Bank of Canada by 146.3% during the fourth quarter. Cerity Partners LLC now owns 24,368 shares of the financial services provider’s stock valued at $2,464,000 after buying an additional 14,476 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in shares of Royal Bank of Canada by 36.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 197 shares in the last quarter. Finally, Sapient Capital LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth $251,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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. Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. UBS Group began coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating on the stock. BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.25.

Royal Bank of Canada Trading Up 0.4 %

Royal Bank of Canada stock traded up $0.40 during mid-day trading on Friday, hitting $109.13. The stock had a trading volume of 1,726,914 shares, compared to its average volume of 1,140,008. The stock has a 50-day simple moving average of $108.02 and a two-hundred day simple moving average of $102.81. The stock has a market capitalization of $154.43 billion, a PE ratio of 13.54, a P/E/G ratio of 1.67 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $112.67. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted 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 analysts’ expectations of $9.95 billion. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. As a group, sell-side analysts forecast that Royal Bank of Canada will post 8.58 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.78%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.49%.

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.