Edmond DE Rothschild Holding S.A. purchased a new position in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,248 shares of the financial services provider’s stock, valued at approximately $1,702,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after buying an additional 1,290,142 shares in the last quarter. FIL Ltd increased its holdings in Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock worth $3,965,133,000 after purchasing an additional 255,465 shares in the last quarter. Norges Bank acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $3,472,382,000. Bank of Nova Scotia boosted its position in Royal Bank Of Canada by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after buying an additional 238,589 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on RY shares. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.00.
Royal Bank Of Canada Stock Down 1.1%
Shares of NYSE RY opened at $205.27 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market cap of $284.63 billion, a PE ratio of 18.44, a P/E/G ratio of 1.64 and a beta of 0.80. The company’s fifty day simple moving average is $208.46 and its 200 day simple moving average is $186.53. Royal Bank Of Canada has a 12-month low of $135.92 and a 12-month high of $218.57.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.12 earnings per share. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.
Royal Bank Of Canada Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.56%.
About Royal Bank Of Canada
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.
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