Korea Investment CORP Increases Position in Royal Bank Of Canada $RY

Korea Investment CORP increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,043,704 shares of the financial services provider’s stock after purchasing an additional 57,646 shares during the period. Korea Investment CORP owned approximately 0.07% of Royal Bank Of Canada worth $178,163,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd purchased a new position in Royal Bank Of Canada during the fourth quarter worth about $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC grew its position in shares of Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $199.58 on Friday. 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 market cap of $277.37 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.57 and a beta of 0.81. Royal Bank Of Canada has a fifty-two week low of $126.02 and a fifty-two week high of $201.74. The firm’s 50 day moving average is $182.12 and its two-hundred day moving average is $171.76.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.12 earnings per share. Analysts expect that Royal Bank Of Canada will post 11.52 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is 42.41%.

Analysts Set New Price Targets

Several analysts have recently commented on RY shares. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research report on Thursday. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Company 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.