Callan Capital LLC Makes New Investment in Royal Bank of Canada (NYSE:RY)

Callan Capital LLC purchased a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,849 shares of the financial services provider’s stock, valued at approximately $288,000.

A number of other large investors also recently modified their holdings of RY. Bank of Nova Scotia lifted its holdings in shares of Royal Bank of Canada by 13.0% in the third 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 purchasing an additional 3,062,038 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Royal Bank of Canada by 5.4% in the fourth quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock valued at $2,718,631,000 after purchasing an additional 1,369,723 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Royal Bank of Canada during the fourth quarter worth $1,220,441,000. Vanguard Group Inc. lifted its holdings in Royal Bank of Canada by 1.4% during the third quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock worth $4,645,444,000 after acquiring an additional 717,971 shares during the period. Finally, NBC Securities Inc. bought a new stake in Royal Bank of Canada during the third quarter worth $34,335,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY traded up $0.48 during mid-day trading on Friday, hitting $98.16. The stock had a trading volume of 468,683 shares, compared to its average volume of 1,229,621. The firm has a market cap of $138.87 billion, a P/E ratio of 12.36, a PEG ratio of 1.68 and a beta of 0.86. The business has a fifty day moving average price of $99.11 and a 200-day moving average price of $94.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. The firm had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. On average, equities research analysts expect that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change 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 presently 25.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RY shares. Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $140.00 to $150.00 in a report on Friday, April 5th. Finally, Jefferies Financial Group began coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.