Carroll Financial Associates Inc. Boosts Stake in Royal Bank of Canada (NYSE:RY)

Carroll Financial Associates Inc. boosted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 84.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 35,987 shares of the financial services provider’s stock after buying an additional 16,440 shares during the period. Carroll Financial Associates Inc.’s holdings in Royal Bank of Canada were worth $2,857,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Amundi Pioneer Asset Management Inc. lifted its stake in Royal Bank of Canada by 16.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 757,406 shares of the financial services provider’s stock worth $57,223,000 after purchasing an additional 105,153 shares during the last quarter. Merit Financial Group LLC increased its position in shares of Royal Bank of Canada by 20.1% during the first quarter. Merit Financial Group LLC now owns 5,356 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 896 shares during the period. Cerebellum GP LLC purchased a new position in shares of Royal Bank of Canada during the first quarter worth approximately $303,000. Marshall Wace North America L.P. increased its position in shares of Royal Bank of Canada by 114.3% during the first quarter. Marshall Wace North America L.P. now owns 116,800 shares of the financial services provider’s stock worth $8,815,000 after acquiring an additional 62,300 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of Royal Bank of Canada during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 41.55% of the company’s stock.

RY has been the topic of a number of research reports. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday, July 13th. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Finally, Desjardins reaffirmed a “hold” rating on shares of Choice Properties REIT in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of “Hold” and an average price target of $99.25.



Shares of NYSE:RY traded up $0.37 during trading on Tuesday, reaching $80.27. 652,035 shares of the company were exchanged, compared to its average volume of 885,669. The company has a market capitalization of $114.73 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.10 and a beta of 1.07. The business’s fifty day simple moving average is $79.17. Royal Bank of Canada has a 12-month low of $65.76 and a 12-month high of $81.56. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.04. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $7.60 billion. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. During the same period last year, the company posted $2.06 earnings per share. On average, sell-side analysts expect that Royal Bank of Canada will post 6.7 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be issued a dividend of $0.7596 per share. This represents a $3.04 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s payout ratio is 46.86%.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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