Hexagon Capital Partners LLC Boosts Holdings in Royal Bank of Canada (NYSE:RY)

Hexagon Capital Partners LLC boosted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,571 shares of the financial services provider’s stock after purchasing an additional 191 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Royal Bank of Canada were worth $196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC raised its stake in shares of Royal Bank of Canada by 47.4% in the first quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock worth $1,664,000 after purchasing an additional 5,302 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in Royal Bank of Canada by 91.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 19,900 shares of the financial services provider’s stock valued at $2,008,000 after acquiring an additional 9,500 shares during the period. Legal & General Group Plc grew its stake in shares of Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Royal Bank of Canada by 53.0% during the first quarter. Maryland State Retirement & Pension System now owns 73,036 shares of the financial services provider’s stock valued at $7,038,000 after purchasing an additional 25,299 shares during the last quarter. Finally, Nexus Investment Management ULC lifted its position in Royal Bank of Canada by 2.2% during the first quarter. Nexus Investment Management ULC now owns 509,004 shares of the financial services provider’s stock valued at $51,376,000 after purchasing an additional 11,015 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Price Performance

NYSE RY opened at $121.47 on Friday. The stock has a market cap of $171.72 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.99 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $125.28. The company’s 50 day moving average is $118.01 and its two-hundred day moving average is $109.25. 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 announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, research analysts anticipate that Royal Bank of Canada will post 8.97 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.18%.

Wall Street Analyst Weigh In

RY has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets increased their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, UBS Group started coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

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.