34,999 Shares in Royal Bank Of Canada $RY Bought by Tacita Capital Inc

Key Points

• Tacita Capital Inc. bought 34,999 shares of Royal Bank of Canada during the second quarter, valued at approximately $7.23 million and representing 3.9% of its portfolio.
• RBC reported quarterly EPS of $2.84, beating estimates of $2.81, while revenue rose 11.4% year over year to $12.84 billion. The bank also increased its quarterly dividend to $1.76, implying a 3.4% annual yield.
• Shares opened at $207.78, down 2.4%, while analysts maintained an overall “Moderate Buy” rating with an average price target of $225. Institutional investors own 45.31% of the company.

Tacita Capital Inc bought a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,999 shares of the financial services provider's stock, valued at approximately $7,233,000. Royal Bank Of Canada accounts for about 3.9% of Tacita Capital Inc's holdings, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at about $28,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in Royal Bank Of Canada during the second quarter valued at approximately $30,257,000. Danske Bank A S bought a new stake in Royal Bank Of Canada in the second quarter valued at approximately $2,343,000. Diversify Advisory Services LLC bought a new stake in Royal Bank Of Canada in the second quarter valued at approximately $863,000. Finally, First National Bank of Omaha acquired a new stake in Royal Bank Of Canada in the second quarter worth $6,841,000. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Down 2.4%

Royal Bank Of Canada stock opened at $207.78 on Thursday. The company's 50-day moving average price is $208.34 and its two-hundred day moving average price is $186.26. 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 stock has a market cap of $288.11 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.68 and a beta of 0.80. Royal Bank Of Canada has a twelve month low of $135.92 and a twelve month high of $218.57.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data 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. The company had revenue of $12.84 billion during the quarter, compared to analysts' expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.12 earnings per share. As a group, analysts expect that Royal Bank Of Canada will post 11.47 EPS for the current 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 $1.76 dividend. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada's dividend payout ratio is presently 44.56%.

Wall Street Analyst Weigh In

RY has been the subject of several research analyst reports. 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. Weiss Ratings upgraded shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Finally, Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada 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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