Royal Bank Of Canada $RY Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,576,368 shares of the financial services provider’s stock after acquiring an additional 188,620 shares during the period. Dimensional Fund Advisors LP’s holdings in Royal Bank Of Canada were worth $416,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RY. Harvest Fund Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada during the fourth quarter worth about $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at about $26,000. Key Financial Inc grew its stake in Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada during the third quarter worth approximately $27,000. Finally, Maseco LLP lifted its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RY. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Down 2.3%

RY stock opened at $210.39 on Tuesday. The company has a market cap of $291.72 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $218.57. The company’s 50-day moving average price is $198.71 and its 200 day moving average price is $179.78. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued 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. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the company posted $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 42.41%.

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.