Nykredit A S Makes New Investment in Royal Bank Of Canada $RY

Key Points

• Nykredit A/S acquired 276,247 shares of Royal Bank of Canada in the second quarter, valued at approximately $57.2 million. Institutional investors and hedge funds collectively own 45.31% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $225 target price. RBC recently exceeded quarterly EPS and revenue expectations.
• RBC declared a quarterly dividend of $1.76 per share, equivalent to $7.04 annually and a 3.5% yield, with a 43.39% payout ratio.

Nykredit A S acquired a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 276,247 shares of the financial services provider's stock, valued at approximately $57,183,000.

A number of other large investors have also bought and sold shares of RY. Norges Bank bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at approximately $3,472,382,000. Bank of Nova Scotia purchased a new stake in shares of Royal Bank Of Canada in the 2nd quarter worth about $2,549,157,000. The Manufacturers Life Insurance Company purchased a new position in shares of Royal Bank Of Canada during the second quarter valued at approximately $2,296,717,000. Canada Pension Plan Investment Board purchased a new stake in Royal Bank Of Canada during the 2nd quarter valued at $2,275,797,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Royal Bank Of Canada in the second quarter worth approximately $2,260,820,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on RY. Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They issued a "market perform" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a 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. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Stock Down 0.1%

NYSE:RY opened at $203.34 on Friday. Royal Bank Of Canada has a 52 week low of $143.13 and a 52 week high of $218.57. The stock's fifty day moving average is $209.22 and its two-hundred day moving average is $191.62. The stock has a market capitalization of $281.95 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.83 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.

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

Royal Bank Of Canada Announces Dividend

The business 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. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada's payout ratio is presently 43.39%.

Royal Bank Of Canada Profile

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada's largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.

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