Quantbot Technologies LP Acquires New Holdings in Royal Bank Of Canada $RY

Key Points

• Quantbot Technologies LP acquired 12,665 shares of Royal Bank of Canada, valued at approximately $2.62 million. Institutional investors collectively own 45.31% of the bank’s stock.
• RBC reported quarterly EPS of $2.84, exceeding estimates of $2.81, while revenue rose 11.4% year over year to $12.84 billion.
• The bank increased its quarterly dividend to $1.76 per share, equivalent to a 3.4% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $225.

Quantbot Technologies LP purchased a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,665 shares of the financial services provider's stock, valued at approximately $2,621,000.

Several other institutional investors have also added to or reduced their stakes in RY. Vanguard Group Inc. grew its holdings in Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock worth $11,529,165,000 after acquiring an additional 1,290,142 shares during the period. FIL Ltd boosted its stake in Royal Bank Of Canada by 1.1% during the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider's stock valued at $3,965,133,000 after purchasing an additional 255,465 shares during the last quarter. Norges Bank bought a new stake in Royal Bank Of Canada during the fourth quarter worth $3,472,382,000. Bank of Nova Scotia raised its holdings in shares of Royal Bank Of Canada by 1.6% in the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider's stock valued at $2,596,904,000 after purchasing an additional 238,589 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider's stock worth $2,389,773,000 after buying an additional 882,253 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $204.86 on Monday. Royal Bank Of Canada has a 1-year low of $135.97 and a 1-year high of $218.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $284.06 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The firm's 50 day simple moving average is $208.56 and its 200 day simple moving average is $186.79.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $3.12 EPS. As a group, analysts expect that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 44.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RY shares. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Friday. Raymond James Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a report on Wednesday. Finally, Weiss Ratings raised Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $225.00.

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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