Capital Investment Counsel Inc Grows Position in Royal Bank of Canada (RY)

Capital Investment Counsel Inc increased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,293 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Capital Investment Counsel Inc’s holdings in Royal Bank of Canada were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Royal Bank of Canada by 2.7% during the third quarter. Vanguard Group Inc. now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after acquiring an additional 981,890 shares during the period. Vanguard Group Inc raised its stake in Royal Bank of Canada by 2.7% during the third quarter. Vanguard Group Inc now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after acquiring an additional 981,890 shares during the period. FIL Ltd raised its stake in Royal Bank of Canada by 3.0% during the third quarter. FIL Ltd now owns 21,367,285 shares of the financial services provider’s stock worth $1,712,823,000 after acquiring an additional 627,041 shares during the period. Toronto Dominion Bank raised its stake in Royal Bank of Canada by 2.1% during the third quarter. Toronto Dominion Bank now owns 20,298,238 shares of the financial services provider’s stock worth $1,627,944,000 after acquiring an additional 411,614 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Royal Bank of Canada by 1.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,389,586 shares of the financial services provider’s stock worth $1,152,636,000 after acquiring an additional 147,284 shares during the period. Hedge funds and other institutional investors own 40.59% of the company’s stock.

Several brokerages have commented on RY. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating and set a $86.00 price target on the stock in a research note on Wednesday, January 30th. Argus dropped their price target on shares of Royal Bank of Canada to $89.00 and set a “positive” rating on the stock in a research note on Thursday, November 29th. They noted that the move was a valuation call. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research note on Wednesday, November 28th. Scotiabank restated an “average” rating and issued a $115.00 price target on shares of Royal Bank of Canada in a research note on Sunday, December 2nd. Finally, ValuEngine upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Royal Bank of Canada has an average rating of “Buy” and an average target price of $96.67.

Shares of NYSE:RY opened at $76.06 on Monday. The company has a market cap of $109.19 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 2.12 and a beta of 1.11. Royal Bank of Canada has a 1-year low of $65.76 and a 1-year high of $81.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, November 28th. The financial services provider reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The firm had revenue of $10.67 billion during the quarter, compared to analysts’ expectations of $11.14 billion. Royal Bank of Canada had a net margin of 21.60% and a return on equity of 18.09%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 6.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Thursday, January 24th will be issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Wednesday, January 23rd. Royal Bank of Canada’s payout ratio is 43.95%.

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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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Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY) (TSE:RY).

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

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