Royal Bank Of Canada $RY Shares Bought by Andra AP fonden

Key Points

• Andra AP fonden sharply increased its stake in Royal Bank of Canada, boosting holdings by 875.5% in the first quarter to 157,077 shares valued at about $25.4 million.
• Royal Bank of Canada reported better-than-expected quarterly results, with EPS of $2.84 beating estimates and revenue of $12.84 billion topping forecasts, while revenue rose 11.4% year over year.
• The bank also raised its quarterly dividend to $1.76 per share from $1.64, implying an annualized dividend of $7.04 and a yield of 3.3%.

Andra AP fonden increased its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 875.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,077 shares of the financial services provider's stock after acquiring an additional 140,974 shares during the period. Andra AP fonden's holdings in Royal Bank Of Canada were worth $25,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RY. Norges Bank bought a new position in Royal Bank Of Canada during the fourth quarter valued at about $3,472,382,000. Alberta Investment Management Corp acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at about $324,237,000. Vanguard Group Inc. boosted its position in shares of 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 valued at $11,529,165,000 after purchasing an additional 1,290,142 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Royal Bank Of Canada by 6.9% in 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 purchasing an additional 882,253 shares during the last quarter. Finally, BCV Asset Management Inc. acquired a new position in shares of Royal Bank Of Canada in the 4th quarter worth approximately $136,790,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $210.39 on Tuesday. Royal Bank Of Canada has a 1-year low of $127.38 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 company has a market capitalization of $291.72 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.71 and a beta of 0.80. The stock's fifty day simple moving average is $198.71 and its 200-day simple moving average is $179.78.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping 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 return on equity of 17.68% and a net margin of 15.92%.The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.12 EPS. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.45 earnings per share 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. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada's dividend payout ratio is 42.41%.

Analyst Ratings Changes

Several analysts recently commented on RY shares. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. TD Securities reiterated a "buy" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings cut Royal Bank Of Canada from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, June 29th. Finally, Raymond James Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Profile

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.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.