Van Lanschot Kempen Investment Management N.V. Buys 49,884 Shares of Royal Bank Of Canada $RY

Key Points

• Van Lanschot Kempen Investment Management N.V. increased its Royal Bank of Canada stake by 18.4% in the fourth quarter, buying 49,884 additional shares and bringing its total holdings to 321,162 shares valued at about $54.8 million.
• Other institutional investors also boosted their positions, and institutions now own 45.31% of Royal Bank of Canada’s shares, highlighting continued hedge fund and asset manager interest in the stock.
• Royal Bank of Canada reported better-than-expected quarterly earnings and raised its dividend to $1.76 per share, implying a 3.5% yield. Analysts currently rate the stock a consensus Moderate Buy with a $225 average price target.

Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 18.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 321,162 shares of the financial services provider's stock after acquiring an additional 49,884 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Royal Bank Of Canada were worth $54,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RY. Brighton Jones LLC lifted its stake in Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 575 shares during the period. AQR Capital Management LLC lifted its stake in Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock valued at $1,321,000 after acquiring an additional 4,460 shares during the period. Sivia Capital Partners LLC lifted its stake in Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock valued at $695,000 after acquiring an additional 1,934 shares during the period. Baird Financial Group Inc. lifted its stake in Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock valued at $1,783,000 after acquiring an additional 3,811 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock valued at $6,279,000 after purchasing an additional 3,928 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RY. Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, June 1st. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $199.58 on Friday. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $201.74. The firm has a market capitalization of $277.37 billion, a P/E ratio of 17.93, a PEG ratio of 1.57 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $182.12 and a 200-day moving average price of $171.76.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released 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 analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.12 EPS. Equities research analysts anticipate that Royal Bank Of Canada will post 11.52 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 of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.5%. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. Royal Bank Of Canada's payout ratio is currently 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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