Lansforsakringar Fondforvaltning AB publ Buys 3,656 Shares of Royal Bank Of Canada $RY

Lansforsakringar Fondforvaltning AB publ grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 328,455 shares of the financial services provider’s stock after acquiring an additional 3,656 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Royal Bank Of Canada were worth $52,927,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RY. Brighton Jones LLC raised 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 buying an additional 575 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Royal Bank Of Canada by 60.9% in the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after buying an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 1,934 shares during the period. Baird Financial Group Inc. increased its position in Royal Bank Of Canada by 39.1% during the second 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 last quarter. Finally, Cerity Partners LLC increased its position in Royal Bank Of Canada by 9.0% during the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after acquiring an additional 3,928 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $204.83 on Tuesday. The company has a market capitalization of $284.66 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.61 and a beta of 0.81. Royal Bank Of Canada has a 1-year low of $127.38 and a 1-year high of $204.98. The firm’s 50 day simple moving average is $189.21 and its two-hundred day simple moving average is $175.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data 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. 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 period last year, the firm earned $3.12 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Research analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given 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 dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada 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.