Callan Capital LLC Buys New Shares in Royal Bank of Canada (NYSE:RY)

Callan Capital LLC bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, Holdings Channel reports. The firm bought 2,849 shares of the financial services provider’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RY. Bank of Nova Scotia raised its holdings in Royal Bank of Canada by 13.0% during the third quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock valued at $2,330,506,000 after acquiring an additional 3,062,038 shares during the period. Mackenzie Financial Corp raised its holdings in Royal Bank of Canada by 5.4% during the fourth quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock valued at $2,718,631,000 after acquiring an additional 1,369,723 shares during the period. International Assets Investment Management LLC bought a new stake in Royal Bank of Canada during the fourth quarter valued at about $1,220,441,000. Vanguard Group Inc. raised its holdings in Royal Bank of Canada by 1.4% during the third quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock valued at $4,645,444,000 after acquiring an additional 717,971 shares during the period. Finally, NBC Securities Inc. bought a new stake in shares of Royal Bank of Canada in the third quarter worth about $34,335,000. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Royal Bank of Canada Price Performance

Shares of NYSE RY traded up $0.48 during midday trading on Friday, reaching $98.16. 468,683 shares of the stock traded hands, compared to its average volume of 1,229,621. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $138.87 billion, a PE ratio of 12.36, a P/E/G ratio of 1.68 and a beta of 0.86. Royal Bank of Canada has a one year low of $77.90 and a one year high of $103.88. The company’s 50 day moving average is $99.11 and its 200 day moving average is $94.73.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results 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. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The company had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. On average, equities research analysts anticipate that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend 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 presently 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.