Edmond DE Rothschild Holding S.A. Makes New Investment in Royal Bank Of Canada $RY

Edmond DE Rothschild Holding S.A. acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,248 shares of the financial services provider’s stock, valued at approximately $1,702,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Royal Bank Of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. FIL Ltd boosted its stake in Royal Bank Of Canada by 1.1% during the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after purchasing an additional 255,465 shares during the last quarter. Norges Bank bought a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $3,472,382,000. Bank of Nova Scotia increased its holdings in Royal Bank Of Canada by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after purchasing an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Royal Bank Of Canada by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after purchasing an additional 882,253 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Down 1.1%

Shares of NYSE:RY opened at $205.27 on Friday. Royal Bank Of Canada has a 1 year low of $135.92 and a 1 year high of $218.57. The company has a market capitalization of $284.63 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. The business has a fifty day moving average price of $208.46 and a two-hundred day moving average price of $186.53. 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 released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS 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 analysts’ expectations 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 period in the previous year, the business posted $3.12 EPS. Analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. 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 yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 44.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RY. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. 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.