Investors Buy Large Volume of Call Options on Royal Bank of Canada (NYSE:RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) was the target of some unusual options trading on Wednesday. Traders purchased 2,983 call options on the company. This represents an increase of 270% compared to the average daily volume of 806 call options.

Shares of Royal Bank of Canada stock opened at $61.46 on Friday. The firm has a market capitalization of $80.25 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.58 and a beta of 0.94. Royal Bank of Canada has a fifty-two week low of $49.55 and a fifty-two week high of $82.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day moving average of $72.36 and a 200 day moving average of $78.35.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. The company had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.08 billion. Royal Bank of Canada had a return on equity of 17.32% and a net margin of 19.36%. Analysts forecast that Royal Bank of Canada will post 6.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a $0.816 dividend. This represents a $3.26 annualized dividend and a yield of 5.31%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Wednesday, April 22nd. Royal Bank of Canada’s dividend payout ratio is presently 48.28%.

A number of equities research analysts have recently issued reports on RY shares. ValuEngine upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Thursday, December 26th. Citigroup lowered Royal Bank of Canada from a “buy” rating to a “neutral” rating and set a $113.00 price target for the company. in a research report on Tuesday, December 17th. Zacks Investment Research lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Barclays dropped their price target on Royal Bank of Canada from $106.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, March 9th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank of Canada in a research report on Friday, March 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $101.14.

A number of institutional investors have recently modified their holdings of RY. Merit Financial Group LLC lifted its stake in Royal Bank of Canada by 17.1% during the fourth quarter. Merit Financial Group LLC now owns 6,676 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 975 shares in the last quarter. Nippon Life Global Investors Americas Inc. lifted its stake in Royal Bank of Canada by 8.4% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 90,810 shares of the financial services provider’s stock worth $7,192,000 after purchasing an additional 7,020 shares in the last quarter. Lowe Brockenbrough & Co. Inc. acquired a new position in Royal Bank of Canada during the third quarter worth $220,000. Squarepoint Ops LLC acquired a new position in Royal Bank of Canada during the third quarter worth $760,000. Finally, Beutel Goodman & Co Ltd. lifted its stake in Royal Bank of Canada by 4.6% during the third quarter. Beutel Goodman & Co Ltd. now owns 18,003,029 shares of the financial services provider’s stock worth $1,460,568,000 after purchasing an additional 791,273 shares in the last quarter. Institutional investors own 42.84% of the company’s stock.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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