Royal Bank Of Canada $RY Shares Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp increased its stake in Royal Bank of Canada by 112.7% in the fourth quarter, adding 530,102 shares to bring its total holdings to 1,000,524 shares worth about $170.8 million.
• Institutional interest in RY remains strong, with major investors like Norges Bank, Vanguard, and Geode Capital also reporting large positions; institutions and hedge funds now own 45.31% of the company.
• Royal Bank of Canada reported stronger-than-expected quarterly results and raised its dividend to $1.76 per share, which implies an annual dividend of $7.04 and a yield of 3.5%.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 112.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000,524 shares of the financial services provider's stock after acquiring an additional 530,102 shares during the period. Royal Bank Of Canada accounts for approximately 1.2% of OMERS ADMINISTRATION Corp's investment portfolio, making the stock its 22nd biggest holding. OMERS ADMINISTRATION Corp owned approximately 0.07% of Royal Bank Of Canada worth $170,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth about $3,472,382,000. Canerector Inc. grew its stake in Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider's stock worth $1,964,188,000 after buying an additional 13,267,800 shares during the last quarter. Quadrature Capital Ltd grew its stake in Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider's stock worth $257,183,000 after buying an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. grew its stake in Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider's stock worth $9,777,472,000 after buying an additional 1,329,637 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in 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 during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Analysts Set New Price Targets

RY has been the topic of a number of research reports. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Raymond James Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Finally, Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada Stock Down 0.3%

RY opened at $198.93 on Tuesday. The business's fifty day moving average is $182.83 and its two-hundred day moving average is $172.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $276.46 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.57 and a beta of 0.81. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $201.74.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.Royal Bank Of Canada's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.12 earnings per share. Analysts anticipate that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada's payout ratio is presently 42.41%.

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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