Bowen Hanes & Co. Inc. maintained its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel reports. The fund owned 15,145 shares of the financial services provider’s stock at the end of the second quarter. Bowen Hanes & Co. Inc.’s holdings in Royal Bank Of Canada were worth $1,098,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Royal Bank Of Canada by 4.6% in the first quarter. Vanguard Group Inc. now owns 31,678,190 shares of the financial services provider’s stock valued at $2,309,657,000 after buying an additional 1,402,437 shares in the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Royal Bank Of Canada by 3.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 18,815,431 shares of the financial services provider’s stock valued at $1,368,526,000 after buying an additional 698,500 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Royal Bank Of Canada by 30.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 2,774,400 shares of the financial services provider’s stock valued at $201,561,000 after buying an additional 645,700 shares in the last quarter. FMR LLC raised its stake in shares of Royal Bank Of Canada by 1.9% in the first quarter. FMR LLC now owns 32,153,083 shares of the financial services provider’s stock valued at $2,342,604,000 after buying an additional 596,315 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Royal Bank Of Canada during the first quarter valued at approximately $39,001,000. Hedge funds and other institutional investors own 45.67% of the company’s stock.

Shares of Royal Bank Of Canada (NYSE:RY) opened at 74.74 on Monday. The stock has a 50 day moving average price of $73.23 and a 200-day moving average price of $71.84. The firm has a market cap of $108.89 billion, a price-to-earnings ratio of 12.82 and a beta of 1.07. Royal Bank Of Canada has a 1-year low of $59.99 and a 1-year high of $76.01.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 25th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.08. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $6.88 billion. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. During the same quarter last year, the firm earned $1.66 earnings per share. On average, equities research analysts expect that Royal Bank Of Canada will post $5.87 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be given a dividend of $0.6439 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $2.58 dividend on an annualized basis and a yield of 3.45%. Royal Bank Of Canada’s payout ratio is 49.36%.

ILLEGAL ACTIVITY NOTICE: “Bowen Hanes & Co. Inc. Has $1,098,000 Stake in Royal Bank Of Canada (NYSE:RY)” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/07/bowen-hanes-co-inc-has-1098000-stake-in-royal-bank-of-canada-nysery.html.

RY has been the subject of several research analyst reports. Zacks Investment Research lowered Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. National Bank Financial restated a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, May 18th. BidaskClub upgraded Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Canaccord Genuity initiated coverage on Royal Bank Of Canada in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.75.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY) (TSE:RY).

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.