HL Financial Services LLC Maintains Stake in Royal Bank of Canada (RY)

HL Financial Services LLC continued to hold its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,401 shares of the financial services provider’s stock at the end of the first quarter. HL Financial Services LLC’s holdings in Royal Bank of Canada were worth $248,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. Brown Advisory Inc. raised its stake in shares of Royal Bank of Canada by 0.9% in the fourth quarter. Brown Advisory Inc. now owns 4,362 shares of the financial services provider’s stock valued at $295,000 after buying an additional 40 shares in the last quarter. Heathbridge Capital Management Ltd. raised its stake in shares of Royal Bank of Canada by 1.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,905 shares of the financial services provider’s stock valued at $676,000 after buying an additional 107 shares in the last quarter. Trust Department MB Financial Bank N A raised its stake in shares of Royal Bank of Canada by 1.1% in the first quarter. Trust Department MB Financial Bank N A now owns 13,953 shares of the financial services provider’s stock valued at $1,017,000 after buying an additional 153 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Royal Bank of Canada by 3.0% in the first quarter. Checchi Capital Advisers LLC now owns 5,372 shares of the financial services provider’s stock valued at $392,000 after buying an additional 158 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in shares of Royal Bank of Canada by 4.5% in the fourth quarter. First Allied Advisory Services Inc. now owns 3,852 shares of the financial services provider’s stock valued at $261,000 after buying an additional 166 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Royal Bank of Canada (NYSE:RY) traded up 1.30% during midday trading on Friday, reaching $68.81. The company had a trading volume of 809,133 shares. The stock has a market capitalization of $101.51 billion, a PE ratio of 13.08 and a beta of 1.19. Royal Bank of Canada has a 1-year low of $57.01 and a 1-year high of $76.01. The company’s 50-day moving average is $70.12 and its 200-day moving average is $69.81.

Royal Bank of Canada (NYSE:RY) last announced its quarterly earnings results on Friday, February 24th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $7.23 billion. Royal Bank of Canada had a return on equity of 16.21% and a net margin of 22.15%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. On average, equities research analysts forecast that Royal Bank of Canada will post $5.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Tuesday, April 25th will be issued a dividend of $0.6638 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.62. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, April 21st. Royal Bank of Canada’s dividend payout ratio is presently 49.90%.

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Several equities research analysts have recently issued reports on the company. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Keefe, Bruyette & Woods raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research report on Monday, February 27th. TheStreet raised Royal Bank of Canada from a “c” rating to a “b-” rating in a research report on Monday, January 30th. Finally, Zacks Investment Research raised Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, February 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $85.63.

About Royal Bank of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

5 Day Chart for NYSE:RY

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