Bank of Nova Scotia grew its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 8.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,802,214 shares of the financial services provider's stock after purchasing an additional 1,249,589 shares during the quarter. Royal Bank Of Canada comprises approximately 4.5% of Bank of Nova Scotia's holdings, making the stock its 4th largest holding. Bank of Nova Scotia owned 1.19% of Royal Bank Of Canada worth $1,892,975,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. APG Asset Management N.V. raised its stake in shares of Royal Bank Of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after purchasing an additional 1,343,174 shares during the period. QV Investors Inc. acquired a new stake in shares of Royal Bank Of Canada in the 1st quarter valued at about $51,164,000. Northern Trust Corp raised its stake in shares of Royal Bank Of Canada by 64.4% in the 4th quarter. Northern Trust Corp now owns 1,120,456 shares of the financial services provider's stock valued at $135,026,000 after purchasing an additional 439,077 shares during the period. NBC Securities Inc. raised its stake in shares of Royal Bank Of Canada by 100,405.3% in the 1st quarter. NBC Securities Inc. now owns 361,819 shares of the financial services provider's stock valued at $40,784,000 after purchasing an additional 361,459 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Royal Bank Of Canada by 614.1% in the 4th quarter. Bessemer Group Inc. now owns 417,181 shares of the financial services provider's stock valued at $50,238,000 after acquiring an additional 358,762 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.
Royal Bank Of Canada Stock Performance
Royal Bank Of Canada stock traded up $1.33 during midday trading on Monday, reaching $129.94. 386,417 shares of the company's stock were exchanged, compared to its average volume of 1,307,320. Royal Bank Of Canada has a 52 week low of $102.89 and a 52 week high of $134.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $182.66 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.47 and a beta of 0.89. The stock's 50-day simple moving average is $129.81 and its 200 day simple moving average is $121.97.
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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.92 earnings per share. On average, analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.
Royal Bank Of Canada Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This represents a $4.46 annualized dividend and a yield of 3.4%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is 50.33%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on RY shares. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Scotiabank started coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Finally, Wall Street Zen cut Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and an average price target of $193.00.
Check Out Our Latest Research Report on Royal Bank Of Canada
About Royal Bank Of Canada
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Free Report)
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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