Public Employees Retirement System of Ohio Purchases 10,197 Shares of Royal Bank Of Canada $RY

Key Points

• Public Employees Retirement System of Ohio increased its Royal Bank of Canada stake by 3.7% in the first quarter, buying 10,197 additional shares and bringing its holdings to 286,225 shares worth about $46.1 million.
• Royal Bank of Canada reported better-than-expected quarterly results, with EPS of $2.84 versus estimates of $2.81 and revenue of $12.84 billion, up 11.4% from a year earlier.
• The bank also raised its quarterly dividend to $1.76 per share from $1.64, implying an annualized payout of $7.04 and a yield of 3.4%.

Public Employees Retirement System of Ohio raised its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 286,225 shares of the financial services provider's stock after purchasing an additional 10,197 shares during the period. Public Employees Retirement System of Ohio's holdings in Royal Bank Of Canada were worth $46,111,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Florida Trust Wealth Management Co lifted its holdings in Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider's stock valued at $373,000 after buying an additional 60 shares during the period. Echo45 Advisors LLC grew its holdings in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider's stock worth $204,000 after acquiring an additional 60 shares during the period. Key Financial Inc raised its position in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Alta Capital Management LLC raised its position in shares of Royal Bank Of Canada by 4.0% in the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider's stock worth $287,000 after acquiring an additional 65 shares in the last quarter. Finally, Aspen Grove Capital LLC lifted its stake in shares of Royal Bank Of Canada by 0.3% in the 1st quarter. Aspen Grove Capital LLC now owns 26,506 shares of the financial services provider's stock valued at $4,288,000 after purchasing an additional 69 shares during the period. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RY. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings cut Royal Bank Of Canada from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, June 29th. Raymond James Financial cut Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 12th. Finally, Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $209.13 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $218.57. The stock's 50 day moving average is $200.93 and its 200-day moving average is $180.81. The firm has a market capitalization of $289.98 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.65 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analysts' expectations of $12.74 billion. During the same period last year, the business earned $3.12 EPS. Royal Bank Of Canada's quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada's dividend payout ratio is currently 44.47%.

About Royal Bank Of Canada

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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