Metis Global Partners LLC Has $6.91 Million Stake in Royal Bank of Canada (NYSE:RY)

Metis Global Partners LLC boosted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,370 shares of the financial services provider’s stock after buying an additional 6,312 shares during the quarter. Metis Global Partners LLC’s holdings in Royal Bank of Canada were worth $6,914,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $34,000. Cullen Frost Bankers Inc. bought a new stake in Royal Bank of Canada in the third quarter worth approximately $44,000. First Horizon Advisors Inc. grew its position in shares of Royal Bank of Canada by 64.7% during the 4th 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 during the period. Finally, Addison Advisors LLC grew its position in shares of 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 worth $53,000 after buying an additional 300 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RY. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Barclays began coverage on Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating for the company. Finally, StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Hold” and a consensus target price of $137.67.

Royal Bank of Canada Trading Up 2.0 %

Shares of NYSE RY traded up $1.95 during trading hours on Friday, hitting $101.17. 2,470,596 shares of the company traded hands, compared to its average volume of 1,154,479. The company’s 50 day moving average price is $99.16 and its 200 day moving average price is $95.37. The stock has a market capitalization of $143.13 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. 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 announced 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 company 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 anticipate that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a yield of 4.04%. 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 dividend payout ratio (DPR) is 25.31%.

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.