Fiduciary Financial Group LLC Buys Shares of 1,936 Royal Bank of Canada (NYSE:RY)

Fiduciary Financial Group LLC bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,936 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Canoe Financial LP boosted its stake in shares of Royal Bank of Canada by 11,061.2% in the 4th quarter. Canoe Financial LP now owns 151,142,403 shares of the financial services provider’s stock worth $15,285,031,000 after buying an additional 149,788,224 shares during the last quarter. Vanguard Group Inc. lifted its position in Royal Bank of Canada by 1.8% during the first quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock valued at $5,618,566,000 after purchasing an additional 964,898 shares in the last quarter. TD Asset Management Inc lifted its position in Royal Bank of Canada by 21.7% during the fourth quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock valued at $3,310,010,000 after purchasing an additional 5,810,077 shares in the last quarter. Bank of Nova Scotia lifted its position in Royal Bank of Canada by 5.1% during the fourth quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock valued at $2,834,219,000 after purchasing an additional 1,357,956 shares in the last quarter. Finally, FIL Ltd lifted its position in Royal Bank of Canada by 1.8% during the fourth quarter. FIL Ltd now owns 18,790,164 shares of the financial services provider’s stock valued at $1,900,217,000 after purchasing an additional 333,333 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Up 1.0 %

Shares of NYSE:RY traded up $1.14 during trading hours on Friday, hitting $111.85. 729,376 shares of the company’s stock traded hands, compared to its average volume of 1,098,842. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $112.67. The business has a fifty day moving average price of $108.18 and a 200-day moving average price of $103.10. The firm has a market capitalization of $158.28 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.70 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. The business had revenue of $10.43 billion during the quarter, compared to analyst estimates of $9.95 billion. Equities analysts expect that Royal Bank of Canada will post 8.58 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is 51.49%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RY shares. Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. BMO Capital Markets downgraded Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. UBS Group initiated coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Argus raised their price target on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.25.

Royal Bank of Canada Profile

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.