Kathmere Capital Management LLC Purchases 160 Shares of Royal Bank of Canada (NYSE:RY)

Kathmere Capital Management LLC boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,981 shares of the financial services provider’s stock after acquiring an additional 160 shares during the period. Kathmere Capital Management LLC’s holdings in Royal Bank of Canada were worth $301,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in Royal Bank of Canada by 30.8% during the third quarter. LPL Financial LLC now owns 108,500 shares of the financial services provider’s stock worth $9,487,000 after buying an additional 25,540 shares during the last quarter. Stifel Financial Corp boosted its holdings in Royal Bank of Canada by 3.9% during the third quarter. Stifel Financial Corp now owns 21,680 shares of the financial services provider’s stock worth $1,896,000 after buying an additional 820 shares during the last quarter. Trexquant Investment LP bought a new position in Royal Bank of Canada during the third quarter worth about $1,167,000. Glenmede Trust Co. NA boosted its holdings in Royal Bank of Canada by 16.8% during the third quarter. Glenmede Trust Co. NA now owns 4,298 shares of the financial services provider’s stock worth $376,000 after buying an additional 618 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Royal Bank of Canada by 4.9% during the third quarter. Legal & General Group Plc now owns 7,811,313 shares of the financial services provider’s stock worth $685,772,000 after buying an additional 366,087 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RY shares. Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Argus lifted their price objective 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. Jefferies Financial Group upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.25.

Royal Bank of Canada Stock Up 0.3 %

NYSE:RY opened at $106.40 on Friday. The firm has a market capitalization of $150.56 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $109.51. The stock’s 50 day moving average price is $103.86 and its two-hundred day moving average price is $100.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. The firm had revenue of $10.43 billion for the quarter, compared to analyst estimates of $9.95 billion. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. Equities research analysts expect that Royal Bank of Canada will post 8.47 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently declared 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 is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, July 25th. This represents a $4.12 annualized dividend and a dividend yield of 3.87%. Royal Bank of Canada’s payout ratio is 50.62%.

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.