Nykredit A S Acquires New Shares in Royal Bank Of Canada $RY

Key Points

• Nykredit A/S acquired 335,847 shares of Royal Bank of Canada during the second quarter, worth approximately $69.5 million. Institutional investors and hedge funds collectively own 45.31% of the company.
• Analysts remain broadly positive, with one Strong Buy, eight Buy, and five Hold ratings; the stock has an average “Moderate Buy” rating and a consensus price target of $225.
• Royal Bank of Canada exceeded quarterly earnings and revenue expectations, reporting $3.07 in EPS and $13.22 billion in revenue. The bank also declared a quarterly dividend of $1.76 per share, implying a 3.4% annualized yield.

Nykredit A S bought a new stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 335,847 shares of the financial services provider's stock, valued at approximately $69,520,000.

Several other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at about $25,000. Key Financial Inc raised 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 acquiring an additional 63 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Royal Bank Of Canada during the third quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. bought a new position in Royal Bank Of Canada during the second quarter valued at approximately $28,000. Finally, Maseco LLP lifted its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on RY shares. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Finally, Argus set a $225.00 target price on Royal Bank Of Canada in a report on Thursday, June 11th. One research 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 data from MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada Trading Up 2.2%

Shares of RY stock opened at $207.95 on Thursday. Royal Bank Of Canada has a 12 month low of $143.13 and a 12 month high of $218.57. The company has a market cap of $288.34 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $209.21 and its two-hundred day moving average is $188.71.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The business had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $12.98 billion. Equities analysts predict that Royal Bank Of Canada will post 12.07 EPS for the current year.

Royal Bank Of Canada Announces Dividend

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

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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