Maryland State Retirement & Pension System Has $14.94 Million Stake in Royal Bank Of Canada (NYSE:RY)

Maryland State Retirement & Pension System raised its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 59.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,697 shares of the financial services provider’s stock after acquiring an additional 49,420 shares during the period. Maryland State Retirement & Pension System’s holdings in Royal Bank Of Canada were worth $14,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its stake in shares of Royal Bank Of Canada by 13.0% during the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 84 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Royal Bank Of Canada by 3.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 90 shares during the period. Sivia Capital Partners LLC increased its stake in Royal Bank Of Canada by 2.8% during the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 91 shares during the period. Csenge Advisory Group increased its stake in Royal Bank Of Canada by 4.3% during the 1st quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 91 shares during the period. Finally, Great Lakes Retirement Inc. increased its stake in Royal Bank Of Canada by 0.8% during the 1st quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider’s stock worth $1,281,000 after acquiring an additional 92 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 1.2%

Shares of RY opened at $132.23 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $185.89 billion, a PE ratio of 14.69, a PEG ratio of 1.49 and a beta of 0.89. The stock’s 50-day moving average price is $129.95 and its two-hundred day moving average price is $122.17. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $134.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 earnings per share. On average, analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 50.33%.

Analysts Set New Price Targets

A number of research firms have commented on RY. Wall Street Zen lowered Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. CIBC reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Scotiabank began coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a “sector outperform” rating on the stock. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, National Bank Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.