Varma Mutual Pension Insurance Co Acquires 19,000 Shares of Royal Bank Of Canada $RY

Varma Mutual Pension Insurance Co lifted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,929 shares of the financial services provider’s stock after buying an additional 19,000 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Royal Bank Of Canada were worth $35,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp bought a new position in Royal Bank Of Canada during the third quarter worth about $29,000. True Wealth Design LLC acquired a new position in shares of Royal Bank Of Canada during the third quarter worth about $31,000. Atlantic Union Bankshares Corp bought a new position in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $38,000. CoreCap Advisors LLC grew its position in Royal Bank Of Canada by 103.8% in the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at about $51,000. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RY shares. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Natl Bk Canada raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $172.94 on Thursday. The company has a market cap of $241.68 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.24 and a beta of 0.79. The firm’s fifty day moving average price is $168.81 and its two-hundred day moving average price is $152.65. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $176.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. Royal Bank Of Canada’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.07 EPS. Equities analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be issued a dividend of $1.64 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio is presently 47.66%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.