Royal Bank Of Canada (NYSE:RY) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB purchased an additional 8,600 shares of Royal Bank of Canada (NYSE:RY), increasing its holdings by 4.5% to a total of 197,991 shares, valued at approximately $22.33 million.
• Despite reporting a missed earnings estimate of $2.20 per share against a consensus of $2.25, Royal Bank of Canada showed a 10.7% year-over-year revenue increase, totaling $11.38 billion for the quarter.
• The Bank has recently announced an increase in its quarterly dividend to $1.1152, reflecting a dividend yield of 3.38% based on an annualized figure of $4.46.

Skandinaviska Enskilda Banken AB publ grew its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,991 shares of the financial services provider's stock after purchasing an additional 8,600 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Royal Bank Of Canada were worth $22,332,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Baskin Financial Services Inc. boosted its position in Royal Bank Of Canada by 5.0% in the 1st quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock worth $7,079,000 after purchasing an additional 3,006 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Royal Bank Of Canada by 1.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock worth $38,525,000 after purchasing an additional 3,767 shares in the last quarter. Capital Investment Counsel Inc raised its stake in Royal Bank Of Canada by 24.4% in the 1st quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider's stock valued at $1,144,000 after purchasing an additional 1,989 shares during the last quarter. Unigestion Holding SA raised its stake in Royal Bank Of Canada by 48.7% in the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider's stock valued at $23,705,000 after purchasing an additional 68,939 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Royal Bank Of Canada by 68.1% in the 1st quarter. Diversified Trust Co now owns 79,642 shares of the financial services provider's stock valued at $8,977,000 after purchasing an additional 32,255 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RY shares. Scotiabank began coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Stock Down 0.7%

RY stock traded down $0.86 during trading on Tuesday, hitting $129.59. 827,259 shares of the company's stock were exchanged, compared to its average volume of 1,256,902. The business has a 50-day moving average price of $129.63 and a two-hundred day moving average price of $121.70. The stock has a market capitalization of $182.79 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.51 and a beta of 0.89. Royal Bank Of Canada has a 52-week low of $102.89 and a 52-week high of $134.26. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The business had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. Royal Bank Of Canada's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.92 EPS. As a group, equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a $1.1152 dividend. The ex-dividend date is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.44%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's payout ratio is currently 50.22%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.