APG Asset Management N.V. Acquires 48,061 Shares of Royal Bank Of Canada $RY

Key Points

• APG Asset Management N.V. has increased its holdings in the Royal Bank of Canada by 3.4%, acquiring an additional 48,061 shares, bringing its total ownership to approximately $153.8 million.
• The Royal Bank of Canada reported a quarterly EPS of $2.20, missing the consensus estimate by $0.05, while its revenue for the quarter was also below expectations at $11.38 billion.
• The bank recently raised its quarterly dividend to $1.1152 per share, marking an increase from its previous dividend of $1.03, reflecting a dividend yield of 3.2% on an annualized basis.

APG Asset Management N.V. raised its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,475,136 shares of the financial services provider's stock after acquiring an additional 48,061 shares during the period. APG Asset Management N.V. owned approximately 0.10% of Royal Bank Of Canada worth $153,804,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RY. Vanguard Group Inc. raised its position in Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after purchasing an additional 3,387,971 shares in the last quarter. TD Asset Management Inc boosted its stake in Royal Bank Of Canada by 0.9% in the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock valued at $3,549,520,000 after acquiring an additional 277,466 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Royal Bank Of Canada by 8.0% during the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after acquiring an additional 1,249,589 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Royal Bank Of Canada by 2.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider's stock worth $1,287,927,000 after acquiring an additional 319,270 shares during the period. Finally, Scotia Capital Inc. increased its stake in Royal Bank Of Canada by 0.4% in the 1st quarter. Scotia Capital Inc. now owns 8,924,206 shares of the financial services provider's stock valued at $1,003,385,000 after buying an additional 33,183 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $137.8750 on Friday. The company has a 50 day moving average of $131.87 and a 200-day moving average of $123.31. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $138.34. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $193.75 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $2.92 EPS. As a group, equities research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th were issued a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is 50.22%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research analyst reports. Scotiabank assumed coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating for the company. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $193.00.

About Royal Bank Of Canada

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.

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