USS Investment Management Ltd boosted its position in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,904 shares of the financial services provider’s stock after buying an additional 2,760 shares during the quarter. USS Investment Management Ltd’s holdings in Royal Bank Of Canada were worth $37,023,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Severin Investments LLC raised its stake in Royal Bank Of Canada by 4.0% during the first quarter. Severin Investments LLC now owns 5,969 shares of the financial services provider’s stock valued at $966,000 after buying an additional 227 shares in the last quarter. Wagner Wealth Management LLC grew its position in shares of Royal Bank Of Canada by 4.4% in the 1st quarter. Wagner Wealth Management LLC now owns 6,955 shares of the financial services provider’s stock worth $1,125,000 after acquiring an additional 295 shares in the last quarter. Key Financial Inc increased its holdings in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 63 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Royal Bank Of Canada during the 1st quarter valued at approximately $745,000. Finally, Financial & Tax Architects LLC bought a new position in Royal Bank Of Canada during the first quarter worth $519,000. Institutional investors and hedge funds own 45.31% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on RY. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a report on Thursday, June 11th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.
Royal Bank Of Canada Trading Up 1.0%
Shares of NYSE RY opened at $206.85 on Wednesday. The company has a market cap of $287.47 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $207.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $189.78 and its 200 day simple moving average is $175.70.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 EPS. Equities research analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current year.
Royal Bank Of Canada Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid 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 dividend on an annualized basis and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 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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