Landsberg Bennett & Dubbaneh LLC boosted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,458 shares of the financial services provider’s stock after acquiring an additional 207 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Royal Bank of Canada were worth $275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Resources Investment Advisors Inc. purchased a new stake in Royal Bank of Canada in the first quarter valued at $30,000. Meridian Wealth Management LLC purchased a new stake in shares of Royal Bank of Canada in the first quarter valued at about $30,000. CWM LLC raised its holdings in shares of Royal Bank of Canada by 86.8% in the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after buying an additional 190 shares during the last quarter. WP Advisors LLC purchased a new stake in shares of Royal Bank of Canada in the first quarter valued at about $38,000. Finally, Cornerstone Advisors Inc. raised its holdings in shares of Royal Bank of Canada by 95.9% in the first quarter. Cornerstone Advisors Inc. now owns 570 shares of the financial services provider’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. 41.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:RY traded up $0.15 on Friday, reaching $79.55. The company’s stock had a trading volume of 502,125 shares, compared to its average volume of 899,631. The business has a 50-day moving average price of $79.33. Royal Bank of Canada has a 52-week low of $65.76 and a 52-week high of $81.56. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $114.01 billion, a PE ratio of 12.18, a P/E/G ratio of 2.07 and a beta of 1.07.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 23rd. The financial services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.04. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $7.60 billion. During the same period in the prior year, the company earned $2.06 earnings per share. On average, sell-side analysts forecast that Royal Bank of Canada will post 6.7 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a dividend of $0.7596 per share. The ex-dividend date is Wednesday, July 24th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.82%. Royal Bank of Canada’s dividend payout ratio (DPR) is 47.78%.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Finally, Desjardins reaffirmed a “hold” rating on shares of Choice Properties REIT in a report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Royal Bank of Canada presently has a consensus rating of “Hold” and an average price target of $99.25.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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