Mather Group LLC. Acquires 1,630 Shares of Royal Bank of Canada (NYSE:RY)

Mather Group LLC. raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 337.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,113 shares of the financial services provider’s stock after purchasing an additional 1,630 shares during the period. Mather Group LLC.’s holdings in Royal Bank of Canada were worth $213,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Altrius Capital Management Inc raised its holdings in Royal Bank of Canada by 3.3% in the fourth quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock worth $6,856,000 after buying an additional 2,165 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Royal Bank of Canada by 3.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after acquiring an additional 15,041 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in 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 acquiring an additional 50,995 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Royal Bank of Canada by 47.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock valued at $1,664,000 after purchasing an additional 5,302 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth $1,984,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RY has been the subject of several research analyst reports. Argus lifted their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. UBS Group initiated coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating for the company. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Finally, BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.25.

Royal Bank of Canada Stock Performance

RY stock traded up $0.11 during midday trading on Wednesday, reaching $107.33. 217,989 shares of the company’s stock traded hands, compared to its average volume of 1,096,185. 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 has a 52-week low of $77.90 and a 52-week high of $112.67. The stock has a market cap of $151.88 billion, a P/E ratio of 13.30, a PEG ratio of 1.67 and a beta of 0.86. The stock’s 50-day moving average is $107.92 and its 200 day moving average is $102.64.

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, topping the consensus estimate of $2.03 by $0.12. The firm had revenue of $10.43 billion during 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%. As a group, analysts anticipate that Royal Bank of Canada will post 8.59 EPS 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 given a dividend of $1.03 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s payout ratio is presently 51.49%.

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.