Royal Bank Of Canada $RY Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 294.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,942 shares of the financial services provider’s stock after acquiring an additional 10,407 shares during the quarter. Sterling Capital Management LLC’s holdings in Royal Bank Of Canada were worth $2,256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Royal Bank Of Canada during the fourth quarter valued at $3,472,382,000. Canerector Inc. boosted its holdings in shares of Royal Bank Of Canada by 20,412.0% in the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after buying an additional 13,267,800 shares during the period. Alberta Investment Management Corp acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at about $324,237,000. Quadrature Capital Ltd grew its position in shares of Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after buying an additional 1,498,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after acquiring an additional 1,290,142 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $203.00 on Monday. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $204.82. The firm’s 50-day simple moving average is $188.63 and its 200 day simple moving average is $175.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market cap of $282.12 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.61 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion during 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%. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.12 EPS. Equities analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus 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.