West Family Investments Inc. Takes Position in Royal Bank Of Canada $RY

West Family Investments Inc. bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to its most recent filing with the SEC. The fund bought 5,078 shares of the financial services provider’s stock, valued at approximately $1,051,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tacita Capital Inc bought a new position in Royal Bank Of Canada during the second quarter valued at about $7,233,000. BOK Financial Private Wealth Inc. purchased a new stake in Royal Bank Of Canada during the second quarter worth about $28,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in Royal Bank Of Canada in the second quarter worth about $30,257,000. Danske Bank A S bought a new stake in Royal Bank Of Canada in the second quarter worth about $2,343,000. Finally, Diversify Advisory Services LLC purchased a new position in Royal Bank Of Canada in the second quarter valued at about $863,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Down 2.4%

Shares of Royal Bank Of Canada stock opened at $207.78 on Thursday. The company’s 50-day moving average price is $208.34 and its 200-day moving average price is $186.26. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $135.92 and a 12-month high of $218.57. The company has a market cap of $288.11 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.68 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data 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. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the company earned $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.56%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RY shares. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday. One investment 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.00.

About Royal Bank Of Canada

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.