1,358,029 Shares in Royal Bank Of Canada $RY Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,358,029 shares of the financial services provider's stock, valued at approximately $281,071,000. Bank of New York Mellon Corp owned approximately 0.10% of Royal Bank Of Canada at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Royal Bank Of Canada in the fourth quarter valued at about $3,472,382,000. Alberta Investment Management Corp bought a new position in Royal Bank Of Canada in the fourth quarter worth about $324,237,000. Assenagon Asset Management S.A. boosted its stake in Royal Bank Of Canada by 3,329.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,589,605 shares of the financial services provider's stock valued at $329,002,000 after acquiring an additional 1,543,260 shares during the period. 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 acquiring an additional 1,290,142 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider's stock valued at $2,389,773,000 after purchasing an additional 882,253 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RY. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research report on Wednesday. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Stock Down 0.2%

RY opened at $204.86 on Friday. The stock's 50 day moving average price is $208.56 and its 200 day moving average price is $186.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $284.06 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.62 and a beta of 0.80. Royal Bank Of Canada has a 12 month low of $135.97 and a 12 month 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, topping analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. Royal Bank Of Canada's dividend payout ratio is 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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