Amundi Increases Stock Position in Royal Bank Of Canada $RY

Amundi grew its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 23.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,808,441 shares of the financial services provider's stock after acquiring an additional 525,074 shares during the period. Amundi owned about 0.20% of Royal Bank Of Canada worth $454,350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Royal Bank Of Canada during the 4th quarter valued at approximately $3,472,382,000. Alberta Investment Management Corp acquired a new position in shares of Royal Bank Of Canada during the 4th quarter worth about $324,237,000. Vanguard Group Inc. lifted its stake in Royal Bank Of Canada by 1.9% in the 4th 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. Geode Capital Management LLC lifted its stake in Royal Bank Of Canada by 6.9% in the 4th 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 buying an additional 882,253 shares in the last quarter. Finally, BCV Asset Management Inc. acquired a new stake in Royal Bank Of Canada in the 4th quarter worth about $136,790,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $206.22 on Thursday. 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 stock has a market capitalization of $285.94 billion, a P/E ratio of 18.53, a PEG ratio of 1.68 and a beta of 0.80. The company has a 50 day moving average price of $202.37 and a 200 day moving average price of $181.70. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $218.57.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its 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 company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.12 earnings per share. Equities research analysts forecast that Royal Bank Of Canada will post 11.45 EPS 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. Investors 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 payout ratio is presently 44.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RY. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Argus set a $225.00 target price on shares of 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, Weiss Ratings lowered Royal Bank Of Canada from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and an average price target of $225.00.

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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