Royal Bank of Canada (NYSE:RY) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 131.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 529 shares of the financial services provider’s stock after purchasing an additional 300 shares during the quarter. Addison Advisors LLC’s holdings in Royal Bank of Canada were worth $53,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RY. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada during the third quarter worth $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Royal Bank of Canada in the third quarter valued at $34,000. Cullen Frost Bankers Inc. acquired a new position in Royal Bank of Canada in the third quarter valued at $44,000. Janiczek Wealth Management LLC boosted its holdings in Royal Bank of Canada by 36.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 197 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new position in Royal Bank of Canada in the fourth quarter valued at $105,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.5 %

Shares of NYSE RY traded up $0.48 during midday trading on Friday, reaching $98.16. 502,507 shares of the company’s stock were exchanged, compared to its average volume of 1,261,320. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $138.87 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $103.88. The business’s fifty day moving average price is $99.11 and its two-hundred day moving average price is $94.80.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.05. The firm had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. Analysts forecast that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RY shares. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $150.00 in a report on Friday, April 5th. Jefferies Financial Group began coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Barclays began coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Hold” and a consensus target price of $137.67.

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.