Nuveen LLC Invests $114.33 Million in Royal Bank Of Canada (NYSE:RY)

Key Points

• Nuveen LLC purchased 1,015,086 shares of Royal Bank Of Canada, valued at approximately $114.3 million, which brings their ownership to 0.07% of the company.
• Despite reporting earnings per share (EPS) of $2.20 for the last quarter, Royal Bank Of Canada missed the consensus estimate of $2.25.
• The bank recently declared a quarterly dividend of $1.1152, reflecting an annualized dividend yield of 3.3%, which is an increase from the previous dividend of $1.03.

Nuveen LLC acquired a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,015,086 shares of the financial services provider's stock, valued at approximately $114,327,000. Nuveen LLC owned about 0.07% of Royal Bank Of Canada at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC purchased a new position in Royal Bank Of Canada during the 4th quarter worth $25,000. Sunbelt Securities Inc. raised its position in Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after buying an additional 250 shares during the last quarter. Optiver Holding B.V. purchased a new position in Royal Bank Of Canada during the 4th quarter worth $35,000. Transce3nd LLC purchased a new position in Royal Bank Of Canada during the 4th quarter worth $37,000. Finally, Cullen Frost Bankers Inc. raised its position in Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Price Performance

NYSE RY traded up $0.58 during trading hours on Thursday, reaching $136.49. The company's stock had a trading volume of 1,349,310 shares, compared to its average volume of 1,336,066. The stock has a market cap of $191.87 billion, a PE ratio of 15.17, a PEG ratio of 1.55 and a beta of 0.89. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $136.59. The company's 50-day moving average is $130.83 and its two-hundred day moving average is $122.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion during the quarter, compared to analysts' expectations of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. Royal Bank Of Canada's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $2.92 earnings per share. Analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.3%. Royal Bank Of Canada's payout ratio is currently 50.33%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.