Royal Bank Of Canada $RY Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3,329.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,589,605 shares of the financial services provider’s stock after acquiring an additional 1,543,260 shares during the period. Assenagon Asset Management S.A.’s holdings in Royal Bank Of Canada were worth $329,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Echo45 Advisors LLC raised its holdings in Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 60 shares in the last quarter. Key Financial Inc lifted its position in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 63 shares during the period. Apella Capital LLC boosted its stake in Royal Bank Of Canada by 3.1% during the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 64 shares in the last quarter. Alta Capital Management LLC boosted its stake in Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares in the last quarter. Finally, Aspen Grove Capital LLC increased its position in shares of Royal Bank Of Canada by 0.3% during the 1st quarter. Aspen Grove Capital LLC now owns 26,506 shares of the financial services provider’s stock valued at $4,288,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $211.38 on Friday. Royal Bank Of Canada has a one year low of $132.03 and a one year high of $218.57. The stock has a fifty day moving average of $204.87 and a 200-day moving average of $183.44. The company has a market capitalization of $293.10 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The business 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 company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.12 EPS. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.41 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors 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. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio is 44.56%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.