Spirepoint Private Client LLC Takes Position in Royal Bank of Canada (NYSE:RY)

Spirepoint Private Client LLC bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,123 shares of the financial services provider’s stock, valued at approximately $517,000.

A number of other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in Royal Bank of Canada by 64.7% during the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after buying an additional 185 shares in the last quarter. Mather Group LLC. acquired a new position in Royal Bank of Canada during the 1st quarter worth approximately $49,000. Addison Advisors LLC raised its stake in Royal Bank of Canada by 131.0% during the 4th quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Heritage Wealth Advisors acquired a new position in Royal Bank of Canada during the fourth quarter worth $61,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Royal Bank of Canada by 192.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 471 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded down $0.95 during midday trading on Friday, hitting $111.13. 1,723,367 shares of the company were exchanged, compared to its average volume of 909,978. The firm has a market cap of $157.26 billion, a P/E ratio of 13.79, a PEG ratio of 1.75 and a beta of 0.86. The firm has a 50 day simple moving average of $106.91 and a 200-day simple moving average of $101.77. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $112.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. The business had revenue of $10.43 billion for 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%. Research analysts forecast that Royal Bank of Canada will post 8.47 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.71%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.62%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RY shares. Argus increased their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. BMO Capital Markets cut shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, UBS Group started coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.25.

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.