Royal Bank of Canada (RY) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

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Sumitomo Mitsui Trust Holdings Inc. grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.0% during the first quarter, HoldingsChannel.com reports. The fund owned 5,287,519 shares of the financial services provider’s stock after acquiring an additional 51,549 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Royal Bank of Canada were worth $398,809,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Laurion Capital Management LP acquired a new stake in shares of Royal Bank of Canada during the first quarter worth about $1,739,000. Midwest Professional Planners LTD. acquired a new position in Royal Bank of Canada during the first quarter worth about $226,000. Intercontinental Wealth Advisors LLC raised its stake in Royal Bank of Canada by 7.3% during the first quarter. Intercontinental Wealth Advisors LLC now owns 4,326 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 294 shares in the last quarter. Leisure Capital Management increased its stake in shares of Royal Bank of Canada by 7.1% in the first quarter. Leisure Capital Management now owns 8,230 shares of the financial services provider’s stock valued at $622,000 after buying an additional 546 shares during the period. Finally, River Wealth Advisors LLC increased its stake in shares of Royal Bank of Canada by 4.1% in the first quarter. River Wealth Advisors LLC now owns 23,284 shares of the financial services provider’s stock valued at $1,759,000 after buying an additional 915 shares during the period. Institutional investors and hedge funds own 42.23% of the company’s stock.

RY traded up $0.35 during trading hours on Monday, reaching $78.41. The company’s stock had a trading volume of 31,525 shares, compared to its average volume of 766,146. Royal Bank of Canada has a fifty-two week low of $65.76 and a fifty-two week high of $81.56. The stock has a market capitalization of $112.09 billion, a PE ratio of 12.00, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.93.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Friday, February 22nd. The financial services provider reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Royal Bank of Canada had a net margin of 20.85% and a return on equity of 17.52%. The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. As a group, equities research analysts forecast that Royal Bank of Canada will post 6.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a $0.7704 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 3.93%. Royal Bank of Canada’s dividend payout ratio is currently 46.86%.

RY has been the topic of several research analyst reports. Zacks Investment Research raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating and set a $86.00 target price on the stock in a research note on Wednesday, January 30th. Scotiabank reiterated an “average” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a report on Friday, February 22nd. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Canaccord Genuity reiterated a “hold” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Finally, Desjardins reiterated a “buy” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus price target of $99.25.

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Royal Bank of Canada Company 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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