Royal Bank of Canada (NYSE:RY) Shares Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 23.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,486 shares of the financial services provider’s stock after buying an additional 38,662 shares during the quarter. Royal Bank of Canada makes up about 3.4% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 3rd largest holding. K.J. Harrison & Partners Inc’s holdings in Royal Bank of Canada were worth $20,312,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $34,000. Cullen Frost Bankers Inc. acquired a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $44,000. Janiczek Wealth Management LLC lifted its holdings in Royal Bank of Canada by 36.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 197 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new stake in Royal Bank of Canada in the 4th quarter worth approximately $105,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up $0.48 on Friday, reaching $98.16. The company’s stock had a trading volume of 468,683 shares, compared to its average volume of 1,229,621. 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 company has a market cap of $138.87 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.68 and a beta of 0.86. The business’s fifty day moving average price is $99.11 and its 200 day moving average price is $94.73. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. The company had revenue of $9.98 billion for 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%. Equities analysts expect that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Wednesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio is 25.31%.

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.