Mn Services Vermogensbeheer B.V. Buys 6,500 Shares of Royal Bank Of Canada $RY

Key Points

• Mn Services Vermogensbeheer B.V. increased its Royal Bank of Canada stake by 1.6%, purchasing 6,500 additional shares and bringing its holdings to 413,777 shares valued at approximately $81.6 million.
• Analysts maintain a generally positive outlook, with Royal Bank of Canada receiving a consensus “Moderate Buy” rating and an average price target of $225.
• RBC reported quarterly EPS of $3.07, surpassing estimates of $2.89, and declared a quarterly dividend of C$1.76 per share, equivalent to a 3.7% annualized yield.

Mn Services Vermogensbeheer B.V. increased its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 413,777 shares of the financial services provider's stock after buying an additional 6,500 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Royal Bank Of Canada were worth $81,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter worth about $2,549,157,000. The Manufacturers Life Insurance Company acquired a new stake in Royal Bank Of Canada during the 2nd quarter worth approximately $2,296,717,000. Canada Pension Plan Investment Board purchased a new position in Royal Bank Of Canada in the second quarter valued at approximately $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Royal Bank Of Canada in the second quarter valued at approximately $2,260,820,000. Finally, Legal & General Group Plc acquired a new position in Royal Bank Of Canada during the second quarter valued at approximately $1,645,758,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a "market perform" rating for the company. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th. Finally, TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada Stock Down 0.4%

NYSE:RY opened at $190.48 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $205.43 and a 200-day moving average of $195.20. The firm has a market capitalization of $263.62 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $143.13 and a 52 week high of $218.57.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Analysts predict that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a dividend of C$1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada's payout ratio is 43.39%.

Royal Bank Of Canada Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.

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