Huntington National Bank grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,660 shares of the financial services provider’s stock after purchasing an additional 210 shares during the period. Huntington National Bank’s holdings in Royal Bank of Canada were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Royal Bank of Canada by 2.7% in the third quarter. Vanguard Group Inc. now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after acquiring an additional 981,890 shares during the period. Vanguard Group Inc grew its position in Royal Bank of Canada by 2.7% in the third quarter. Vanguard Group Inc now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after acquiring an additional 981,890 shares during the period. FIL Ltd grew its position in Royal Bank of Canada by 3.0% in the third quarter. FIL Ltd now owns 21,367,285 shares of the financial services provider’s stock worth $1,712,823,000 after acquiring an additional 627,041 shares during the period. Toronto Dominion Bank grew its position in Royal Bank of Canada by 2.1% in the third quarter. Toronto Dominion Bank now owns 20,298,238 shares of the financial services provider’s stock worth $1,627,944,000 after acquiring an additional 411,614 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Royal Bank of Canada by 1.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,389,586 shares of the financial services provider’s stock worth $1,152,636,000 after acquiring an additional 147,284 shares during the period. Institutional investors and hedge funds own 40.72% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective for the company in a research report on Wednesday. Argus lowered their price objective on Royal Bank of Canada to $89.00 and set a “positive” rating for the company in a research report on Thursday, November 29th. They noted that the move was a valuation call. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday, November 28th. Scotiabank reiterated an “average” rating and issued a $115.00 price objective on shares of Royal Bank of Canada in a research report on Sunday, December 2nd. Finally, ValuEngine upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Royal Bank of Canada presently has a consensus rating of “Buy” and an average target price of $96.67.

RY opened at $76.54 on Friday. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $84.89. The firm has a market cap of $109.88 billion, a PE ratio of 11.72, a PEG ratio of 2.13 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, November 28th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.61 by $0.10. Royal Bank of Canada had a return on equity of 18.09% and a net margin of 21.60%. The business had revenue of $10.67 billion during the quarter, compared to analyst estimates of $11.14 billion. During the same period last year, the business posted $1.88 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts predict that Royal Bank of Canada will post 6.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, January 24th will be given a dividend of $0.745 per share. The ex-dividend date is Wednesday, January 23rd. This represents a $2.98 annualized dividend and a dividend yield of 3.89%. Royal Bank of Canada’s dividend payout ratio is currently 43.95%.

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About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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