Canada Pension Plan Investment Board Acquires 521,132 Shares of Royal Bank Of Canada $RY

Key Points

• Canada Pension Plan Investment Board raised its stake in Royal Bank of Canada by 8.2%, buying 521,132 shares to hold 6,867,900 shares (about 0.49% ownership) valued at roughly $905.7 million, making RY its 27th largest holding.
• RBC beat Q results (EPS $2.76 vs. $2.51 est.) with revenue up 14.2% YoY and announced a higher quarterly dividend of $1.64 ($6.56 annual, ~3.9% yield); analysts' consensus is a Moderate Buy with a $162 price target.

Canada Pension Plan Investment Board grew its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,867,900 shares of the financial services provider's stock after buying an additional 521,132 shares during the period. Royal Bank Of Canada makes up about 0.8% of Canada Pension Plan Investment Board's holdings, making the stock its 27th biggest holding. Canada Pension Plan Investment Board owned 0.49% of Royal Bank Of Canada worth $905,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after buying an additional 575 shares during the period. Virtu Financial LLC grew its position in shares of Royal Bank Of Canada by 40.7% in the 1st quarter. Virtu Financial LLC now owns 4,214 shares of the financial services provider's stock worth $475,000 after buying an additional 1,220 shares during the last quarter. HighTower Advisors LLC lifted its stake in Royal Bank Of Canada by 4.4% in the first quarter. HighTower Advisors LLC now owns 106,672 shares of the financial services provider's stock worth $12,024,000 after acquiring an additional 4,456 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Royal Bank Of Canada during the 1st quarter valued at $32,000. Finally, Dimensional Fund Advisors LP increased its position in Royal Bank Of Canada by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,246,579 shares of the financial services provider's stock valued at $253,233,000 after purchasing an additional 74,198 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RY shares. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. UBS Group restated a "buy" rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Jefferies Financial Group downgraded Royal Bank Of Canada from a "buy" rating to a "hold" rating in a report on Tuesday, November 25th. Finally, Argus boosted their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Stock Up 1.1%

NYSE:RY opened at $167.01 on Friday. The firm has a 50-day simple moving average of $149.81 and a two-hundred day simple moving average of $140.37. The firm has a market cap of $233.92 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.20 and a beta of 0.80. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $167.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $12.12 billion. During the same quarter in the prior year, the company posted $3.07 earnings per share. The business's revenue for the quarter was up 14.2% on a year-over-year basis. Analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a $1.64 dividend. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a yield of 3.9%. Royal Bank Of Canada's payout ratio is presently 44.07%.

Royal Bank Of Canada Company Profile

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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