Quantinno Capital Management LP Purchases 27,204 Shares of Royal Bank Of Canada $RY

Quantinno Capital Management LP grew its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 22.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 148,069 shares of the financial services provider’s stock after acquiring an additional 27,204 shares during the period. Quantinno Capital Management LP’s holdings in Royal Bank Of Canada were worth $23,955,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RY. Florida Trust Wealth Management Co raised its stake in Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after buying an additional 60 shares during the period. Echo45 Advisors LLC lifted its holdings in Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 60 shares in the last quarter. Key Financial Inc grew its stake in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 63 shares during the period. Alta Capital Management LLC grew its stake in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 65 shares during the period. Finally, Aspen Grove Capital LLC increased its holdings in shares of Royal Bank Of Canada by 0.3% in the first quarter. Aspen Grove Capital LLC now owns 26,506 shares of the financial services provider’s stock worth $4,288,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

RY stock opened at $209.44 on Friday. The stock has a 50-day moving average price of $203.19 and a two-hundred day moving average price of $182.18. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $218.57. The stock has a market cap of $290.41 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. 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 quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 earnings per share. Equities analysts forecast that Royal Bank Of Canada will post 11.41 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 44.56%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RY. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

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.