Royal Bank of Canada (NYSE:RY) Shares Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.5% during the first quarter, HoldingsChannel.com reports. The fund owned 5,689 shares of the financial services provider’s stock after purchasing an additional 137 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Royal Bank of Canada were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Altrius Capital Management Inc lifted its holdings in shares of Royal Bank of Canada by 3.3% in the 4th quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock valued at $6,856,000 after buying an additional 2,165 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Royal Bank of Canada by 3.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after purchasing an additional 15,041 shares during the period. Triasima Portfolio Management inc. increased its holdings in shares of Royal Bank of Canada by 5.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock valued at $99,785,000 after purchasing an additional 50,995 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Royal Bank of Canada by 163.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock valued at $16,271,000 after purchasing an additional 99,523 shares during the period. Finally, Addenda Capital Inc. boosted its holdings in Royal Bank of Canada by 2.1% during the fourth quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock worth $84,547,000 after buying an additional 16,964 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $109.02 on Friday. The stock has a fifty day moving average price of $104.61 and a 200 day moving average price of $101.00. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $109.60. The firm has a market capitalization of $154.27 billion, a P/E ratio of 13.53, a PEG ratio of 1.72 and a beta of 0.86. The company has a current ratio of 0.87, a quick 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 data on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. The company had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $9.95 billion. Equities research analysts anticipate that Royal Bank of Canada will post 8.47 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a dividend of $1.03 per share. The ex-dividend date is Thursday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 3.78%. Royal Bank of Canada’s payout ratio is currently 50.62%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RY shares. Argus boosted their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Scotiabank raised 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 research note on Tuesday. They set a “buy” rating on the stock. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada currently has an average 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.