Carr Financial Group Corp Invests $204,000 in Royal Bank of Canada (NYSE:RY)

Carr Financial Group Corp bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,014 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other institutional investors have also recently made changes to their positions in RY. Vanguard Group Inc. increased its position in Royal Bank of Canada by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock valued at $4,645,444,000 after buying an additional 717,971 shares in the last quarter. Bank of Nova Scotia increased its position in Royal Bank of Canada by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock valued at $2,330,506,000 after buying an additional 3,062,038 shares in the last quarter. National Bank of Canada FI increased its position in Royal Bank of Canada by 4.2% during the 3rd quarter. National Bank of Canada FI now owns 19,602,058 shares of the financial services provider’s stock valued at $1,661,862,000 after buying an additional 797,146 shares in the last quarter. Norges Bank bought a new position in Royal Bank of Canada during the 4th quarter valued at approximately $1,583,609,000. Finally, CIBC Asset Management Inc increased its position in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock valued at $1,088,176,000 after buying an additional 106,757 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY traded down $1.84 on Wednesday, reaching $100.94. 1,125,105 shares of the company’s stock traded hands, compared to its average volume of 1,217,278. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $98.81 and a 200-day simple moving average of $93.70. The firm has a market cap of $142.80 billion, a PE ratio of 12.66, a P/E/G ratio of 1.77 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. The business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. Equities research analysts forecast that Royal Bank of Canada will post 8.5 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a $1.0207 dividend. This represents a $4.08 annualized dividend and a dividend yield of 4.04%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is 37.66%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating for the company. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Barclays assumed coverage on Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their target price for the company from $140.00 to $150.00 in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus price target of $137.67.

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 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.