Royal Bank of Canada (NYSE:RY) Stock Holdings Increased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,486 shares of the financial services provider’s stock after acquiring an additional 38,662 shares during the period. Royal Bank of Canada comprises 3.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its 3rd biggest position. K.J. Harrison & Partners Inc’s holdings in Royal Bank of Canada were worth $20,312,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at about $34,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at about $44,000. Janiczek Wealth Management LLC grew its holdings in shares of Royal Bank of Canada by 36.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 197 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $105,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RY has been the subject of a number of analyst reports. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $140.00 to $150.00 in a report on Friday, April 5th. Barclays initiated coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating for the company. Jefferies Financial Group initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Hold” and a consensus target price of $137.67.

Royal Bank of Canada Trading Up 0.5 %

RY stock traded up $0.48 during mid-day trading on Friday, hitting $98.16. 468,683 shares of the company were exchanged, compared to its average volume of 1,229,621. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $138.87 billion, a P/E ratio of 12.36, a PEG ratio of 1.68 and a beta of 0.86. The business has a fifty day simple moving average of $99.11 and a 200-day simple moving average of $94.73. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.05. The business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. On average, equities research analysts predict that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio is currently 25.31%.

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.