BerganKDV Wealth Management LLC Has $2.12 Million Stake in Royal Bank of Canada (NYSE:RY)

BerganKDV Wealth Management LLC raised its position in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 14.1% during the first quarter, HoldingsChannel.com reports. The fund owned 19,210 shares of the financial services provider’s stock after buying an additional 2,378 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Royal Bank of Canada were worth $2,118,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RY. Norges Bank bought a new position in shares of Royal Bank of Canada during the 4th quarter worth about $1,635,969,000. Alberta Investment Management Corp lifted its position in Royal Bank of Canada by 38.4% in the 4th quarter. Alberta Investment Management Corp now owns 4,159,663 shares of the financial services provider’s stock valued at $442,097,000 after acquiring an additional 1,154,200 shares in the last quarter. Renaissance Technologies LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at about $67,874,000. Schroder Investment Management Group lifted its position in Royal Bank of Canada by 113.7% in the 4th quarter. Schroder Investment Management Group now owns 1,086,782 shares of the financial services provider’s stock valued at $145,901,000 after acquiring an additional 578,167 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Royal Bank of Canada by 9.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 6,932,690 shares of the financial services provider’s stock valued at $736,334,000 after acquiring an additional 577,839 shares in the last quarter. Institutional investors own 41.50% of the company’s stock.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded down $0.60 during midday trading on Friday, reaching $97.77. 410,749 shares of the company traded hands, compared to its average volume of 1,043,049. Royal Bank of Canada has a 12 month low of $90.75 and a 12 month high of $119.41. The firm has a market capitalization of $136.35 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average of $98.08 and a two-hundred day moving average of $104.77.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its earnings results on Thursday, May 26th. The financial services provider reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.28. Royal Bank of Canada had a net margin of 28.54% and a return on equity of 17.97%. The business had revenue of $8.86 billion during the quarter. As a group, research analysts predict that Royal Bank of Canada will post 8.86 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be paid a $0.995 dividend. The ex-dividend date of this dividend is Monday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.07%. Royal Bank of Canada’s dividend payout ratio is 43.54%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RY. Stifel Nicolaus decreased their price objective on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a research note on Friday, April 8th. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. National Bank Financial raised their price target on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Friday, May 27th. TD Securities cut their price target on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a report on Friday, May 27th. Finally, Argus lifted their price objective on shares of Royal Bank of Canada from $121.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.84.

Royal Bank of Canada Company Profile

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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.

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

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