Assenagon Asset Management S.A. Purchases 20,974 Shares of Royal Bank of Canada (NYSE:RY)

Assenagon Asset Management S.A. boosted its position in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 47.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 65,100 shares of the financial services provider’s stock after buying an additional 20,974 shares during the period. Assenagon Asset Management S.A.’s holdings in Royal Bank of Canada were worth $7,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RY. Charles Schwab Investment Management Inc. raised its holdings in Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after acquiring an additional 64,450 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Royal Bank of Canada in the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth $10,243,000. Jones Financial Companies Lllp raised its holdings in shares of Royal Bank of Canada by 1,322.0% during the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock worth $483,000 after buying an additional 3,728 shares in the last quarter. Finally, Unigestion Holding SA raised its holdings in shares of Royal Bank of Canada by 48.7% during the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider’s stock worth $23,705,000 after buying an additional 68,939 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RY shares. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Scotiabank started coverage on Royal Bank of Canada in a report on Thursday, May 15th. They set a “sector outperform” rating for the company. Barclays reissued an “overweight” rating on shares of Royal Bank of Canada in a report on Monday, June 9th. Wall Street Zen cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. Finally, National Bank Financial cut Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

View Our Latest Research Report on Royal Bank of Canada

Royal Bank of Canada Trading Down 0.8%

Shares of RY stock opened at $127.80 on Friday. The firm has a market capitalization of $180.27 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a twelve month low of $102.52 and a twelve month high of $129.46. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $121.79 and its 200 day simple moving average is $119.93.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 EPS. As a group, sell-side analysts predict that Royal Bank of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.49%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 49.78%.

About Royal Bank of Canada

(Free Report)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

Further Reading

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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