Quantbot Technologies LP purchased a new position in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,665 shares of the financial services provider’s stock, valued at approximately $2,621,000.
A number of other hedge funds have also recently made changes to their positions in the business. Echo45 Advisors LLC boosted its holdings in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 60 shares during the period. Key Financial Inc boosted its stake in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the period. Apella Capital LLC boosted its stake in shares of Royal Bank Of Canada by 3.1% during the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 64 shares during the period. Alta Capital Management LLC increased its holdings in Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares during the period. Finally, Fiduciary Financial Group LLC raised its position in Royal Bank Of Canada by 3.5% during the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 68 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on RY. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.
Royal Bank Of Canada Price Performance
Shares of NYSE:RY opened at $204.86 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $284.06 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The business has a 50-day simple moving average of $208.56 and a two-hundred day simple moving average of $186.79. Royal Bank Of Canada has a fifty-two week low of $135.97 and a fifty-two week high of $218.57.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $3.12 EPS. On average, analysts expect that Royal Bank Of Canada will post 11.59 earnings per share for the current year.
Royal Bank Of Canada Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. 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%.
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.
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