Royal Bank of Canada (NYSE:RY) is Dixon Mitchell Investment Counsel Inc.’s 8th Largest Position

Dixon Mitchell Investment Counsel Inc. boosted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 785,633 shares of the financial services provider’s stock after purchasing an additional 11,081 shares during the quarter. Royal Bank of Canada comprises 3.9% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest holding. Dixon Mitchell Investment Counsel Inc. owned 0.06% of Royal Bank of Canada worth $79,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RY. LPL Financial LLC raised its position in Royal Bank of Canada by 30.8% in the 3rd quarter. LPL Financial LLC now owns 108,500 shares of the financial services provider’s stock valued at $9,487,000 after purchasing an additional 25,540 shares during the last quarter. Stifel Financial Corp raised its position in Royal Bank of Canada by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 21,680 shares of the financial services provider’s stock worth $1,896,000 after buying an additional 820 shares during the last quarter. Trexquant Investment LP purchased a new position in Royal Bank of Canada during the 3rd quarter worth $1,167,000. Glenmede Trust Co. NA raised its position in Royal Bank of Canada by 16.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,298 shares of the financial services provider’s stock worth $376,000 after buying an additional 618 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Royal Bank of Canada by 4.9% during the 3rd quarter. Legal & General Group Plc now owns 7,811,313 shares of the financial services provider’s stock worth $685,772,000 after buying an additional 366,087 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Argus upped their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, UBS Group began coverage on shares of Royal Bank of Canada in a research note on Tuesday. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.25.

Royal Bank of Canada Price Performance

NYSE RY traded up $1.55 during trading hours on Tuesday, reaching $107.53. The company’s stock had a trading volume of 714,288 shares, compared to its average volume of 1,085,658. The stock has a market cap of $152.16 billion, a PE ratio of 13.32, a PEG ratio of 1.67 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $109.51. The company’s 50-day moving average is $104.00 and its two-hundred day moving average is $100.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. Analysts forecast that Royal Bank of Canada will post 8.47 EPS for the current year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be paid 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 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.62%.

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.