Mufg Securities Canada LTD. Has $408.75 Million Stock Holdings in Royal Bank Of Canada $RY

Key Points

• MUFG Securities Canada reduced its Royal Bank of Canada stake by 4.6% in the second quarter, selling 96,086 shares. It still held 1.98 million shares worth approximately $408.75 million, representing 10.9% of its portfolio.
• Royal Bank of Canada exceeded quarterly expectations, reporting $3.07 in EPS versus the $2.89 consensus and revenue of $13.22 billion compared with estimates of $12.98 billion.
• RBC declared a quarterly dividend of $1.76, or $7.04 annualized, yielding about 3.4%. Analysts maintain a “Moderate Buy” consensus with an average price target of $225, above the reported share price of $204.34.

Mufg Securities Canada LTD. decreased its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,977,134 shares of the financial services provider's stock after selling 96,086 shares during the period. Royal Bank Of Canada accounts for 10.9% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its largest position. Mufg Securities Canada LTD. owned about 0.14% of Royal Bank Of Canada worth $408,754,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter worth $3,472,382,000. Bank of Nova Scotia purchased a new position in Royal Bank Of Canada during the second quarter worth about $2,549,157,000. The Manufacturers Life Insurance Company bought a new position in Royal Bank Of Canada in the 2nd quarter worth about $2,296,717,000. Canada Pension Plan Investment Board purchased a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at about $2,275,797,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at about $2,260,820,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $204.34 on Tuesday. The company's fifty day moving average is $209.08 and its 200 day moving average is $188.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 52 week low of $143.13 and a 52 week high of $218.57. The stock has a market cap of $283.34 billion, a PE ratio of 17.88, a PEG ratio of 1.51 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced 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. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%.The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $12.98 billion. Research analysts anticipate that Royal Bank Of Canada will post 11.75 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a $1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada's payout ratio is presently 43.39%.

Analyst Ratings Changes

RY has been the topic of several research analyst reports. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a "market perform" rating on the stock. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Finally, Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and an average price target of $225.00.

Royal Bank Of Canada Profile

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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