Te Ahumairangi Investment Management Ltd acquired a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,130 shares of the financial services provider's stock, valued at approximately $5,409,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RY. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $25,000. Key Financial Inc raised its position in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the third quarter valued at about $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Royal Bank Of Canada during the second quarter worth about $28,000. Finally, Maseco LLP grew its holdings in shares of Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 45.31% of the company's stock.
Royal Bank Of Canada Stock Performance
NYSE:RY opened at $204.86 on Monday. The company has a market capitalization of $284.06 billion, a PE ratio of 18.41, a P/E/G ratio of 1.54 and a beta of 0.80. The company has a 50 day simple moving average of $208.56 and a two-hundred day simple moving average of $186.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a fifty-two week low of $135.97 and a fifty-two week high of $218.57.
Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly 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 net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the company earned $3.12 EPS. The company's revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts anticipate that Royal Bank Of Canada will post 11.59 earnings per share for the current year.
Royal Bank Of Canada Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. 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 (DPR) is presently 44.56%.
Wall Street Analyst Weigh In
RY has been the subject of a number of research reports. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday. They issued a "market perform" rating for the company. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.
Read Our Latest Report on Royal Bank Of Canada
Royal Bank Of Canada Company Profile
(
Free Report)
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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