Hexagon Capital Partners LLC Buys 367 Shares of Royal Bank of Canada (NYSE:RY)

Hexagon Capital Partners LLC lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 62.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 955 shares of the financial services provider’s stock after acquiring an additional 367 shares during the period. Hexagon Capital Partners LLC’s holdings in Royal Bank of Canada were worth $97,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Royal Bank of Canada by 1.4% in the third quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock valued at $4,645,444,000 after buying an additional 717,971 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Royal Bank of Canada by 5.4% during the 4th quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock valued at $2,718,631,000 after purchasing an additional 1,369,723 shares during the last quarter. Bank of Nova Scotia increased its holdings in Royal Bank of Canada by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock worth $2,330,506,000 after purchasing an additional 3,062,038 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock worth $1,088,176,000 after purchasing an additional 106,757 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Royal Bank of Canada by 1.6% in the third quarter. Wellington Management Group LLP now owns 10,590,914 shares of the financial services provider’s stock valued at $929,810,000 after purchasing an additional 166,968 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

NYSE RY opened at $97.38 on Thursday. The company’s 50 day simple moving average is $99.09 and its two-hundred day simple moving average is $95.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $103.88. The stock has a market capitalization of $137.77 billion, a PE ratio of 12.26, a P/E/G ratio of 1.67 and a beta of 0.85.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. The company had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. 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 business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group started coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating for the company. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their target price for the company from $140.00 to $150.00 in a report on Friday, April 5th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Barclays started coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Hold” and an average price target of $137.67.

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 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.