Royal Bank Of Canada $RY Shares Purchased by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.5% during the first quarter, Holdings Channel reports. The fund owned 57,207 shares of the financial services provider’s stock after acquiring an additional 2,480 shares during the quarter. Royal Bank Of Canada makes up approximately 8.1% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 3rd biggest position. Summerhill Capital Management lnc.’s holdings in Royal Bank Of Canada were worth $9,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada in the fourth quarter valued at $26,000. Maseco LLP increased its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Royal Bank Of Canada during the third quarter worth about $27,000. Finally, Highline Wealth Partners LLC lifted its position in Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.4%

Shares of NYSE:RY opened at $203.00 on Friday. The stock has a 50-day simple moving average of $188.63 and a 200-day simple moving average of $175.03. The stock has a market capitalization of $282.12 billion, a P/E ratio of 18.24, a PEG ratio of 1.61 and a beta of 0.81. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $204.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. During the same quarter last year, the firm posted $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts forecast that Royal Bank Of Canada will post 11.45 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 Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 42.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RY shares. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.