Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,928,916 shares of the financial services provider's stock, valued at approximately $2,260,820,000. Royal Bank Of Canada makes up approximately 4.3% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its largest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.79% of Royal Bank Of Canada as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the fourth quarter worth $25,000. Key Financial Inc lifted its position in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock valued at $26,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. purchased a new position in Royal Bank Of Canada during the third quarter valued at $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $28,000. Finally, Maseco LLP boosted its holdings in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider's stock valued at $29,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on RY. TD Securities reiterated a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a report on Friday. They issued a "market perform" rating on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.00.
Check Out Our Latest Analysis on RY
Royal Bank Of Canada Price Performance
RY opened at $204.86 on Monday. The firm has a market cap of $284.06 billion, a PE ratio of 18.41, a P/E/G ratio of 1.54 and a beta of 0.80. The stock has a 50-day moving average price of $208.56 and a 200-day moving average price of $186.79. Royal Bank Of Canada has a 1 year low of $135.97 and a 1 year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.
Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.12 EPS. Sell-side analysts predict that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.
Royal Bank Of Canada Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders 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. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada's payout ratio is currently 44.56%.
About Royal Bank Of Canada
(
Free Report)
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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